Sunday, September 14, 2008


MCCAIN on the Economy: He originally voted for Bush’s privatization of social security. Given the collapse of so many sectors within the financial community, where would millions of Americans be today had they invested their social security in Fannie Mae, WAMU etc? Second, Congress just approved an 8 billion dollar influx of our money into the Highway Trust Fund.

The Highway Trust Fund is normally funded with gasoline taxes. Remember how McCain was calling for suspending the gas tax for the summer for an average family savings of $30.00. The 8 billion it is now costing us to save the Highway Trust Fund would have been a lot more, had McCain had his way in suspending the gasoline tax.

I guess when McCain told us he is weak on the economy he was telling the truth. Go figure a politician telling the truth.


Becky Syck said...

Re: social security privatization: A conservative, DIVERSIFIED portfolio will beat social security every time (and it will be safer.)

BobbyWC said...

"A conservative, DIVERSIFIED portfolio" - I agree but we both know Congress will eventually fold on the issue under pressure from the special interests. And then we will have a mess.

I have always supported a lock-box on SS - so congress can not raid it - I have also supported the government investing SS in a conservative portfolio.

If we allow the individual to make the investments we both know when the investments fail the government will bail them out - we will not leave the senior citizen on the street because they invested poorly.

So - while I agree on conservative investment of SS by the SS Administration - I do oppose the Bush plan for privatization - the plan would have been a failure - which was my point -

But on the point of conservative investment I agree - I am also glad I removed money from WAMU

Bobby WC