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Social Insecurity

Posted on: Saturday, 19 July 2008, 00:00 CDT

According to Jean Friday, president of the Pennsylvania chapter of the Alliance for Retired Americans, who doesn't like John McCain's support for privatizing Social Security, the stock market is too risky a place for Social Security funds to be invested ("McCain's table," Letters, July 11 and PghTrib.com).

True, the market does go down, but it always goes back up, which is why the Teamsters, executives of companies and teachers unions invest their pensions in the stock market. Even with drops in the market, you still win versus a government-run system.

And talk about the risks. The U.S. government stole and is still stealing trillions of dollars from the current system, so the Social Security vault is absolutely empty.

Hmm, I wonder where the Pennsylvania Alliance for Retired Americans invests its pension for its staff?

Jeff Ruzicka

Jeannette

A spokesman for the Alliance for Retired Americans in Washington says his organization's 30 employees belong to the AFL-CIO's pension plan and also have a 401(k) plan available. "While funds from the latter are linked to the stock market," he wrote in an e-mail, "our organization believes that Social Security must be a stable, bedrock foundation of retirement security."

(c) 2008 Tribune-Review/Pittsburgh Tribune-Review. Provided by ProQuest Information and Learning. All rights Reserved.

Source: Tribune-Review/Pittsburgh Tribune-Review

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