In response to:

Social Security: A Green Swindle of Another Type

RichardsKY Wrote: Oct 08, 2012 8:32 AM
But, SilentCalfan, "saving" the program through means testing would mean that someone who was frugal and built a solid nest egg for his retirement would get less, while the spendthrift who saved nothing would get more, rewarding bad behavior. To me, the worst thing about Social Security is that the government is taking your money from you in order to save it for you, but you get no say in how your savings is invested. The only investment option the government has is government, but compare the ROI of government bonds against the ROI of the stock market. So, the government takes your money, puts it in a bad retirement investment, then gives you back only a fraction of what you would have earned had you invested it yourself.

"Social Security is structurally sound. It's going to have to be tweaked the way it was by Ronald Reagan and Democratic Speaker Tip O'Neill. But the basic structure is sound."

So said Obama in his first presidential debate with Mitt Romney before moving on to another topic that he was more interested in discussing.

But the reality is that Social Security--the federal government's largest program--is not sound. And the "tweaks" Obama spoke of (from the Reagan-O'Neill years) include raising the retirement age, increasing social security taxes, and delaying cost of living adjustments. And those...

Related Tags: Green