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GeoLane at PTD dot NET GeoLane at PTD dot NET is offline
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Default The bright side of the stockmarket collapse

On Fri, 10 Oct 2008 22:25:56 -0500, Ignoramus18712
wrote:

At least your Social Security money was not used to "play with
stocks", as Bush and McCain wanted.

In 2006, McCain voted for the Social Security Reserve Fund. The
proposal would shift Social Security's annual surpluses into a
reserve account that would be converted into risky private
accounts. [SCR 83, Vote #68, 3/16/06; SCR 83, Vote #68, 3/16/06]

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On 2008-10-11, GeoLane at PTD dot NET GeoLane wrote:


Iggy. I think that was an option that individuals could select.
People weren't going to be forced into taking market risk. The risk
with social security as it is today for those of us with good incomes
is that we aren't going to collect.


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On Thu, 09 Oct 2008 14:41:18 -0500, Ignoramus19789
wrote:


They would not be forced, yes, so they would voluntarily lose their
money and then, guess what, another bailout of imprudent old retired
people by prudent people.


===============

Iggy. That's really what's going on now with our current social
security system. It's a Ponzi scheme with an IOU from the government,
and with our aging population, you and I are going to be left holding
the bag.

Further off topic. One of the comments I heard growing up was that
Roosevelt didn't get us out of the depression, World War II did. With
the current lack of a response to interventions our by government,
it's adding some credence to that allegation. I'm not implying that
we need a war to get us out of this. It's just an interesting
observation.

RWL