Should we privatize social security?

[Ken B]

Get your "facts" straight. McCain HAS NEVER advocated privatizing SS. And neither has any of his aides.

[stackoladan]

No. I read Obamanomics, and in that book the author cites a reference that states if we would have privatized social security, then we would have lost 25% of the funds. That book was published this year, but I am not sure when the study was done. Taking into consideration that the market is worse now, then it is fair to say that we may have lost up to 40% of the funds if social security would have been privatized. Investing social security in the stock market is too risky. For retirement, we should have more than just social security, but not everyone has the income to afford other retirement plans. We cannot afford to gamble with other people's money. Especially considering this is for retirement.

No we should not privatize medicare. Again, this is just too risky.

It is quite apparent that McCain and his advisers are not learning anything from what has happened on Wall Street. This economic crisis occurred due to corrupt and aggressive practices. Privatizing social security and medicare is too aggressive. Obviously, they have not learned from the mistakes that have already been made.