George Bush, February 2, 2005 State of the Union: "As we fix Social Security, we also have the responsibility to make the system a better deal for younger workers. And the best way to reach that goal is through voluntary personal retirement accounts..."Imagine if social security funds were invested in the market.
"We'll make sure the money can only go into a conservative mix of bonds and stock funds. We'll make sure that your earnings are not eaten up by hidden Wall Street fees. We'll make sure there are good options to protect your investments from sudden market swings on the eve of your retirement."Choose your poison. Corporate bonds, or equities?
Personal retirement accounts should be familiar to federal employees, because you already have something similar, called the Thrift Savings Plan, which lets workers deposit a portion of their paychecks into any of five different broadly-based investment funds. It's time to extend the same security, and choice, and ownership to young Americans.Because TSP funds have been very effective at capital preservation.
Consultant Ninja Analysis: Social Security Privatization is dead for at least 20 years.
Source: CNN.com, TSP.gov, Consultant Ninja Analysis