AARP Reacts to President Bush’s Convention Remarks on Social Security

[Pah]

September 3, 2004

Social Security should be strengthened for the future so it can continue to play its important role in Americans' retirement. Changes to the current system are needed so that Americans can always depend on it.

Private accounts are not the answer. AARP opposes creating private retirement accounts by diverting funds from Social Security. Shifting money from Social Security into private accounts jeopardizes the secure benefit people know today.

According to some estimates, the government would have to borrow over $2 trillion in the next ten years to fund these carve-out proposals, creating a huge increase in U.S. debt.

AARP will fight to protect and strengthen Social Security. While Social Security needs modest changes, the secure benefit it provides should not be put at risk.

Online here

So what do you think? Look after yourself or pay back the ones who's money has already been spent on your fathers and mothers:?

 

[civilcynic]

Using the private business sector for social security...can you say "Enron"? How many individuals have lost their jobs, pensions and savings due to corruption in large corporations while their CEO's get fat and rich? Of course, if I recall correctly, Pres. Bush bailed out right before his oil company crashed...he personally stayed financially afloat as a result but everyone else in his company went down the tubes.

I don't believe that Social Security will be around for more than a few more decades (and that's being generous with time). If it does somehow survive, it cannot do so using investments in private corporations, etc; Business is fickle, some fail completely, some gain profits then crash, none are guaranteed stable. The only ones that would benefit from Bush's plans are the big corporations (gee, what a surprise!).