What would have happened to Social Security if the Republicans had privatized it before the stock market crash?

[James E Lewis AKA choteau]

[SayAgain]

It would have crashed and burned and everyone would have died... What you wanna hear, right?

Hind sight is always 20/20..

[Matt]

I guess we will never know. Might be better off than now and it might be the same as now. Either way SS is broken and it isn't getting better.

[out2lunch4now2]

People would have been able to make the choice to invest in gold, silver or platinum instead of the failed federal government. How do you know the market would have still collapsed? Going back and changing one event in history would have a domino effect on everything that has happened since. What would America be like if John Kennedy hadn't been shot in Dallas that November day?

[crash.override]

No idea. But without SOME kind of reform, then SS is dying a slow death. And Democrats don't seem to care.

http://money.cnn.com/2011/01/21/news/eco...axes_debt/
Social Security Faces Unfunded Liability of $8.6T, or $73,167.83 Per Household
http://cnsnews.com/news/article/social-s...-household

Medicare Faces Unfunded Liability of $38.6T, or $328,404 for Each U.S. Household
http://cnsnews.com/news/article/medicare...-household

Social Security Disability to be Insolvent in 4 years without reform
http://www.newsmax.com/Newsfront/BGOVALL.../id/440437

[Jeff D]

My 401k retirement fund took a hit during the 2008 recession, and it's lost money during most recessions. However, it's made a lot more money during periods of growth so it's still worth a lot more than what I put into it. That's how it is with investing, you try to take the long view and not get sidetracked by the bumps. My 401k will be funding my retirement long after Social Security has gone bankrupt.

[jimbo]

Republicans never have nor do now, favor the privatization of SS. What they ARE in favor of is private funded options for those who so desire. Major difference. Even with the bearish stock markets from time to time, in the last 50 years profits from the markets have beat the heck out of SS withholding. What is really your point? What is really cool is that the Amish are probably laughing at this debate as they do not participate in SS, nor Medicare. The last of the true Americans?

[ggraves1724]

My recollection is that Bush brought up the idea that younger citizens could elect to change their SS from government funding to private investment, really no different than a 401K. However, the Democratic leadership (Pelosi primarily) would not consider bringing it up for a vote since it was a Republican idea, Bush even asked that the Dem's bring up their own idea, but they refused to even consider it. I believe most of both houses are chock full of ego driven career minded slugs who start running for office the day they are elected and that partisanship is merely a campaign gimmick.

It's probably a sure bet that the market would have welcomed the private investment especially since it would have government support, and it would have been a starting point to repair SS. But alas, we are super ignorant about politics by expecting things to change by putting the same people in office weary year after year.

[Meredith]

The top 1% would have it all by now. Obama saved the damn day, I don't care what anyone says.

[tylertxanreborn]

with the rules suggested in privatization--ultimately everyone would have made a lot of money--because they couldn't sell it when the stock dropped--a few years later they would have made money on those shares. Then they would have been buying shares when the market was at 6000 and with it now 12000--they would have been about 100 times better off than if it weren't privatized.