On the 75th anniversary of Social Security, President Obama promises to protect it from Republican leaders in Congress who have made privatization a key part of their agenda. He makes clear that, especially in light of the financial crisis, gambling Social Security on Wall Street makes no sense.
As I am sure we all do, I have many friends and family who lost a bundle of money when the market crashed in September 2008. It is still not stable enough to plan on keeping anything in it as far as I am concerned.
Just a few weeks back, it fell again and this week has been down a lot. Can you imagine what that would do to our Social Security. Most people don't have enough to live on in the first place.... To have lost 50% or more would be enough to send the majority of people to the bread lines we still fear we are going to see.
I hope this Congress doesn't even think seriously about this. I believe they would sorely test the President and we would see him angry and adamant in a veto.