Mr. Bush, meet Mr. Bust
More on Social Security, from the Christian Science Monitor
Another report on why "private accounts" will do more harm than good to the younger generations. Reliance on the stock market is just not a good idea.
David Francis notes: "Social Security actuaries assume stocks will return an average real 6.5 percent over an individual's 45-year career in the years ahead, a fraction less than the historic record since 1802. A new survey of 10 Wall Street economists by the Wall Street Journal found a consensus of 4.81 percent. The three economists doubt even that."
Mr. Magill sees the plan for private accounts as "quite frightening" and "ill-advised," considering what happened to stock prices in the Great Depression. "It is a little akin to forgetting history," he says.
Another report on why "private accounts" will do more harm than good to the younger generations. Reliance on the stock market is just not a good idea.
David Francis notes: "Social Security actuaries assume stocks will return an average real 6.5 percent over an individual's 45-year career in the years ahead, a fraction less than the historic record since 1802. A new survey of 10 Wall Street economists by the Wall Street Journal found a consensus of 4.81 percent. The three economists doubt even that."
Mr. Magill sees the plan for private accounts as "quite frightening" and "ill-advised," considering what happened to stock prices in the Great Depression. "It is a little akin to forgetting history," he says.
posted by progressivegrannie at 10:35 AM
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