AFP State Director Steve Lonegan Debates Social Security

[des1vin]

Since when are the market investment FDIC insured? Any advice for those who put their money in MF Global or Madoff schemes?

[capitalmuse]

jam0387, Many do including those that live in Chile. Yes Chile SA.

Better retirement plan then we have. The Texas State worker also have their investments (money taken out of their salery) managed differently.

Wake up if you are under 55 years old folks!! Mr. Lonegan is right!!

[des1vin]

@jam0387 I am yet to see some common man retiree putting his savings in market and live of the profits. May be you are one. Congrats...

[jamo387]

Best thing about the Chilean model is that they get to keep that money. EVEN IF THEY DIE, their family gets THEIR money. Try that with the social security ponzi scheme.

[jamo387]

I love to see Lonegan kicking some leftist ass. This lady had an exceedingly fat ass too but he managed to kick all of it.

[kimoyarim]

PUT THE 2.6 BILLION BACK INTO SOCIAL SECURITY PLUS THE INTEREST AND TELL THE GOVERNMENT TO KEEP THEIR HANDS OUT OF THE FUNDS. THIS IS STEALING.

[jamo387]

@kimoyarim Tell the government to tell itself to keep their hands off our money? Good luck with that plan.

[des1vin]

both side are talking BS. 2.6 billion in reserve. 55 million people drawing 1200 per month. How long is this going to last?

Market? Does not generate money. It's a lottery (some gain all loose).

[jamo387]

@des1vin Market over time generates 10% (index fund). You don't know what you're talking about.