A Quote by Ron Chernow

I'm dubious about having Social Security put into the stock market. I think that we have gotten very far away from the idea that there's something sacrosanct about retirement investments.
I was a stock broker once. I think there is an absolute place for market investments. But they should never be the basis of one's retirement. They should be an additional piece on top of a basic, secure, guaranteed retirement benefit.
The debate over Social Security should not be about how much we can cut from the program in order to balance the federal budget. The debate over Social Security should not be about raising the retirement age or limiting benefits. The debate over Social Security should be about retirement security.
Republicans are suggesting that you take your retirement money and invest it in the stock market to take care of yourself but that leaves you with choices that you may not know anything about. The purpose of social Security is that you don't fall through the crack and find yourself destitute.
First of all, the Social Security money belongs to Main Street, not to Wall Street. It needs to be said very clearly here that privatization is off the table... Social Security, as a matter of fact, is a better investment now than the stock market. There's a higher return. There's guaranteed cost-of-living increases. Privatization you have to worry about the value of your account.
I am very concerned about the millions of baby boomers who are counting on the stock market to deliver them a safe, sound, long retirement. I am afraid the baby boomers who are counting on the stock market are in trouble.
Let me be clear, the discussions about Social Security are not about the retirement security of those Americans who are 55 or older - the Social Security system for those folks 55 and over will not change in any way shape of form - no ifs, ands, or buts.
I think there are a lot of people out there that are speculating in the stock market. They have all kinds of tech stocks or social media stocks. If you want to gamble in the stock market, I would much rather gamble on a mining stock than a social media stock.
Do I want to see people take their Social Security payments and put them into private accounts, open up an eTrade account and go into the stock market? Absolutely not.
As you know President Bush has been traveling around the country trying to sell his new Social Security plan. He wants to take our retirement money and invest it in the stock market. He says nothing can go wrong. I'll mention that to Martha Stewart the next time I see her.
The Presidents plan to privatize Social Security would actually take away guaranteed benefits and put the promise of a secure retirement in jeopardy.
Even people who feel perfectly comfortable investing in the stock market and owning their own homes often have qualms about individual medical accounts or Social Security private accounts.
Stock market risk is ok, but not for Social Security.
My plan to put Social Security in an ironclad lockbox has gotten a lot of attention recently, and I'm glad about that. But I'm afraid that it's overshadowing some vitally important proposals. For instance, I'll put Medicaid in a walk-in closet. I'll put the Community Reinvestment Act in a secured gym locker. I'll put NASA funding in a hermetically sealed Ziploc bag.
Social Security is the very foundation of retirement security for millions of Americans.
In other words, Social Security is every bit as insecure as the stock market.
If Congress wants to mess with the retirement program, why don't we let them start by changing their retirement program, and not have one, instead of talking about getting rid of Social Security and Medicare that was robbed $700 billion dollars to pay for Obamacare.
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