McCain still supports Social Security privatization

[PA Democrat]

GREEN BAY, Wisc. - Wall Street turmoil left John McCain scrambling to explain why the fundamentals of the U.S. economy remained strong. It also left him defending his support for privately investing Social Security money in the same markets that had tanked earlier in the week.

The Republican presidential nominee says all options must be considered to stave off insolvency for the government insurance and retirement program, and top McCain advisers say that includes so-called personal retirement accounts like those President Bush pushed in 2005 but abandoned in the face of congressional opposition.

The aides tried to soothe voters concerned about the bankruptcies, takeovers and bailouts on Wall Street by declaring McCain favored only the option of such accounts, just for younger workers, and most likely in a conservative investment vehicle such as bonds.

Private accounts for Social Security are "always an easier sell when the markets are going up instead of going down," said David Wyss, chief economist at Standard & Poor's. "I don't think this is a good week to sell that one politically, but you're looking at the long term here. You're investing your retirement funds for 20 or 30 years down the road

http://news.yahoo.com/s/ap/20080919/ap_on_el_pr/mccain_social_security_5;_ylt=AvBoGDSF0xF7eThwjKz00jlh24cA

[babylonsister]

1. This needs to be made into an ad if it hasn't been yet; how clueless

does this appear? :wtf:

[Faygo Kid]

4. Yes, Obama needs to pound him on this. The people have spoken: No privatization.

It's crystal clear that no matter how hard they try, the GOP thugs are not going to convince people to dismantle Social Security.

Obama should destroy him on this issue; this one alone could be the game changer.

[PA Democrat]

5. Recall that McCain did not realize that contributions of today's workers are paying the benefits of

today's retirees. He called it "an absolute disgrace." He truly is an economic moron.

http://www.youtube.com/watch?v=ugN8Rn5baqM

[Overseas]

13. I'd like to see an ad on this also. Still very true and scary.

Also his thing about taxing medical insurance benefits we get along with our jobs.

[The_Casual_Observer]

2. He's a very stupid man.

[rvablue]

3. This is going to be a good GOTCHA for Obama at the debates! n/t

[aint_no_life_nowhere]

6. John McCain 8/16/08 "We're going to put an end to greed!"

I wonder how he intends to do away with a human tendency that's as old as time.

[PA Democrat]

9. Your photo looks like Bush and McSame are channeling Benny Hinn.

Are they trying to "faith heal" the economy perhaps? Praise free markets!

[mscuedawg]

7. Timing is everything

[PA Democrat]

10. I thought it was an old article at first, but it's from today.

Amazing isn't it?

[mscuedawg]

11. Amazing and frightening....w/the news the last few days...

I cant believe they still think that's a good idea...

[vanderBeth]

8. Un-freakin'-believable.

[Jeff In Milwaukee]

12. Make him pay for it...

The theme of the week for next week should be Social Security. Now that we know the Bush-McCain plan would be a total disaster, Obama should make McCain explain himself.