Cafferty File: Privatizing Social Security

From the Cafferty File:

Bear Stearns, Lehman Brothers, Merrill Lynch, AIG, Fannie Mae and Freddie Mac.

The crisis on Wall Street is enough to rattle any investor Let alone one who is about to retire or whos already living on a fixed income.

401(k)s and pension plans — many of which have exposure to these troubled companies — are taking huge hits as a result of this mess.

Luckily we have the safety net of Social Security to fall back on For now.

You may remember just four years ago President Bush made a big push to partially privatize Social Security You know so we could individually invest our future with the great minds on Wall Street. It failed back then, but that concept could still become a reality. See John McCain also supports supplementing Social Security with private investment accounts. His opponent Barack Obama does not.

Heres my question to you: In light of the failures of large financial institutions, is privatizing Social Security a good idea?

Category:

News & Politics

Tags:

• Jack
• Cafferty
• File
• Privatizing
• Social
• Security

[poindexterwitkowsky]

Stand up 4 your RIGHTS Americans+ The REPUBLICANS have been FOOLING YOU for the last 30 yrs. SOCIAL SECURITY*, (SS) , is NOT an entitlement! SS HAS A $2.6 TRILLION SURPLUS. SS CAN pay every claim at least until 2030.+ SS DOES NOT increase the federal budget by one cent!Tell the REPUBLICAN GANGSTERS & THEIR WALLSTREET BANDIT FRIENDS that you will FIGHT any PRIVATIZATION OF your SS pension. You will FIGHT ANY REDUCTION IN BENEFITS.~YOU will FIGHT any change in AGE REQUIREMENT FOR SS BENEFITS!

[NKNIGHT62]

The government collects SS taxes from employees and employers each year.

The government pays out SOME of that money to current retirees.

The government Spends the rest on ordinary stuff and does not save in trust fund or invest it. And they don't count the IOU as debt in the defecit calculations...just free money to spend.

There is NO TRUSTFUND.

By definition it is a Ponzi Scheme

[shellybirdy]

love the video really good

[TheKcsmithy]

Very enjoyable thank you

[simysimss]

you have some great stuff here

[jessyjessy4]

Very enjoyable thank you

[BudGlerm]

privatize my cock!

[TheManiacalSatanist6]

Bear in mind when they're talking about privatizing Social Security that they're only talking about partially privatizing it. Partial reforms are these are especially dangerous because not only do they have the inherent instability that comes in every government institution, but it also opens up Pandora's Box of corporate corruption. Complete privatization where the government gets out of Social Security completely would be a very good idea, but partially, this is dangerous.

[TheManiacalSatanist6]

@NKNIGHT62 Too bad this isn't the number 1 top comment. The number 1 top comment had to be some idiot saying that SS has a $2.6 Trillion surplus, which is absolute nonsense.

[adamkajones]

@poindexterwitkowsky Then where is the money?

[AroundSun]

@NUTCASE71733 No shit, both parties are the BIG GOVERNMENT PARTY. There is not two parties in Washington there is ONE. Ron Paul is one of the only real limited government advocates

[NUTCASE71733]

@AroundSun

And th emodern day version of coservatism is in no way like it was originally either by your moronic logic. Bush has been one monumental fuck up along with his dad, Reagan, and Nixon.