Money Spent

Russ Feingold and politicians from both parties raided the Social Security Trust Fund of trillions and left seniors an IOU. They spent the money, it's gone.

Category:

News & Politics

Tags:

• Ron Johnson
• Russ Feingold
• US Senate

[TheSoulOfColorado]

If Wall Street gets any of their hands on your money (SS), they can freely invest it, squander it, and get ANOTHER bailout in the future. So either way, America is screwed if we privatize the system.

Common arthmetic (use Google) shows that if a 18yo worker invests $1,000/yr of his money until he reaches age 50 in a number of low risk stock funds, he will have more than SS will pay him. THERE IS NO LAW against doing this. However, SS was supposed to be a backup plan. Backup, only. Understand?

[mehlhaff5]

@cmfluteguy Typical rant from a left-wing loser who wines like a Philadelphia sports fan. It is true, Social Securitty is a bigger ponzi scheme than the one Madoff committed. Feingold should be locked up with Bernie Madoff as he has raided from Social Security. It is a problem in BOTH PARTIES.

Next time go stick it before you rant your progressive garbage.

[lpa53]

Years ago Chile began to wean its citizens off of their social security program. They did it by allowing younger people to opt out and instead invest their money. Those who had already paid in substantial amounts would still be paid. If Chile can do this, I think the United States can. And that "risky" mean-spirited stock market? I'll take a free market over the big fat zeros in DC managing my money any day. 30 years of paying in and what's in the "trust fund"? Zero, Zip, Nada.

[rightwinggeniusII]

The idiots on the left have tossed this word "privatization" around so much I don't even know what they mean when they say it. If any1 else is confused, then here's my advice on how to interpret left-wing pabulum:

Whenever U hear that so-&-so wants "to privatize Social Security", just replace the word "privatize" w/ "save" & U get the truth.

I'm N my 20s. Even by the most optimistic projections, the system will be bankrupt by the time I retire if nothing changes.

[jayrt71]

@miazagora What do you think would have happened to you retirement plan, if you had it ALL invested, during the stock market crash in 2008? The ONLY people who are guaranteed to have anything out of the retirement accounts are the brokers! Then when they "lose" all of your retirement, guess who doesn't get to retire.... YOU! Which is their plan in the first place... They... Conservative Politicians... don't feel that you should EVER get to retire... To them you're just peasants!!!

[jayrt71]

@miazagora

You need to get informed and stop having selective hearing. Yes, people need more to invest in their retirement. But Social Security was created as a back-up plan, and for some who have NEVER earned enough in their lifetimes to have enough left over to invest... SS is all that they can look forward to. If you believed in the crap that the conservative movement would have you believe about privitization of Social Security you are an IDIOT!!!

[michaelm2001]

Just look at the national debt! Seriously, have you looked at the actual number recently??? $43,487.00 per citizen right now!!

There's no way the government can keep spending as it does without going bankrupt.  Either things have to change or that SS promise will be broken. I wonder how all the people in Greece feel now about their government's promises.

WE NEED RON JOHNSON!

[danawashere1]

BTW, Social Security is not an "entitlement program". Our retirement money was taken from us, with a promise to give it back. 

[danawashere1]

Our pay checks were raided. The money I would have invested in a wise investment was stolen by Uncle Scam basically at gun point. Uncle Scam decided that my retirement was better off being managed by them, NOT ME. Don't tell me my planning was incorrect because I was given NO CHOICE!

[miazagora]

@cmfluteguy You trusted the federal government with your retirement? You didn't put ANY away in a 401K or something like that? What are you going to do when there is simply no more? You can cuss all you want to, but poor planning on your part doesn't mean the rest of us have to foot the bill for your retirement. It's not our fault the government, who YOU trusted as your sole retirement plan, has squandered your/our money. You won't be able to retire. Better get fit.