Obama's Social Security Whopper

Hey aunkmaa and keeping up: Why is it only 'truth' when it agrees with your point of view?

Prioritize social security just sounds like another ploy by the republicans to control what's ours. Although you have attempted to explain in your words what Bush and McCain meant, I still believe Obama is correct in his assumption. Who can trust Bush or McCain? Stupid Republicans that's who.

Newsweek hehehehahahaheheheheahahahahahaaa GE, NBC, MSNBC... tee hee.

Hey, the market did go up last week... and Obama is just trying ot fool the fools that make up the Dem Party..

That is his job,isn't it?

factcheck.org is so wrong this time: http://www.huffingtonpost.com/2008/09/20/mccain-claimed-privatizat_n_127984.html

This so-called FactCheck is ridiculous. McCain-Palin have been lying every time they open there mouths, to the point where even the MSM can't help but call them liars. Now the guilt-wracked MSM comes after Obama in the guise of "even-handedness.". Baloney. Obama's ad is perfectly proper. McCain wants to privatize social security. If McCain got what he wants, Wall Street would control people's social security money. Period.

This so-called FactCheck is ridiculous. McCain-Palin have been lying every time they open there mouths, to the point where even the MSM can't help but call them liars. Now the guilt-wracked MSM comes after Obama in the guise of "even-handedness.". Baloney. Obama's ad is perfectly proper. McCain wants to privatize social security. If McCain got what he wants, Wall Street would control people's social security money. Period.

Whopper

Carter, Bush 1.0, Clinton and Bush 2.0 already turned the American economy into socialist one. They imposed on the private banks to give loans to people unable to pay the loans back, via regulation.

Obama is going to turn the economy into full fledged Marxist-Leninist sham, nationalizing most of the market and driving most big companies from the country by imposing insane taxes. You can talk all you want about middle class tax breaks, but if you drive our the large and "greedy" companies, you insure NOBODY will have tax breaks, and everyone will have to work for the goverment for minimum wages.

We'll all be equal. Equally poor. Obama/Lenin 2008!

Just stop spending Social Security money on anything other than what it is supposed to be for and we have a chance to keep Social Security solvent. If we put this money in privatized investment, they will find a way to leverage that out of our hands.

Can we trust these greedy peddlers with our money? No!

I tell you what: try to buy and sell stocks while the big corps buy and sell; watch their orders move while yours sits around waiting for the plunge. Try buying in while the price continues to rise; the whole thing is rigged against the common man and tilted for the big company and the rich.

You can't win their game. I'd just as soon go play the lottery as trust these crooks. You may win for a while, but it either zeros out or you lose if you stay in. Sounds like the casino to me. Don't bet what you can't afford to lose, and you won't be too disappointed.

It's a rich man's trick to take your future.

While the precise nature Obama's statement seems admittedly incorrect, the substance of it still remains. Under this plan being peddled by the McCain camp, anyone who follows the privatization scheme is risking their only real safety net on the whims of Wall Street. And we all know how that goes. These people (the Wall Street gamblers and the Republicans) simply want MORE of our money to leverage into more riches for themselves.

When your money is whisked away by these greedy and unscrupulous leaches, the government will NOT rush to your rescue; no bailout for the common man and woman.

The "gotcha" of this FactCheck.org piece may be spectacular, but the unbalanced manner in which it was presented does a supreme injustice to the voter and to those of us who foot the REAL bill in this country.

Boo! Shame on you!

This "Fact Check" is utterly flawed for the very reason that it does not understand the structure of Social Security at all. Social Security is NOT an investment program, but mostly a "Pay-as-you-go" system, where today's payroll taxes fund today's retirees, with the remainder placed in the Trust Fund. As such, even if no one born before 1958 is privatized, the payroll taxes that they rely upon for their Social Security benefits would be. Passing private accounts would simply open up a large gap in the Social Security system, which would have to be filled by either higher payroll taxes, a rapid diminishing of the Trust Fund, the tapping of general federal revenue at a time of already tremendous deficits, or a cutting of benefits. Factchecking isn't just reprinting White House spin: It involves knowing the facts! Wall Street or no, Private Accounts would involve an utter reshaping of Social Security's entire model that would cause great financial stress to accomplish. Would it be too much for you to REPORT THAT FACT?

"And I'll protect Social Security, while John McCain wants to privatize it. Without Social Security half of elderly women would be living in poverty - half. But if my opponent had his way, the millions of Floridians who rely on it would've had their Social Security tied up in the stock market this week. Millions would've watched as the market tumbled and their nest egg disappeared before their eyes. Millions of families would've been scrambling to figure out how to give their mothers and fathers, their grandmothers and grandfathers, the secure retirement that every American deserves. So I know Senator McCain is talking about a "casino culture" on Wall Street - but the fact is, he's the one who wants to gamble with your life savings."

At no point does Obama refer to the 2005 Bill. He illustrates the folly of McCain's willingness to endanger Social Security for the benefit of Wall Street. He responsibly, and rightly, has us imagine what would have happened if seniors were invested in the Privatized Social Security scheme.

factcheck and the Newsweek need to open their eyes to what most of us were able to easily figure out. Burger King serves better "whoppers"!

Keep in mind that Bush's plan was to allow about a third of Social Security contributions to go into private accounts. Since Bush made that proposal in February 2005, the stock market has moved up and down and it's back exactly where it was. No one would have lost a penny. Beyond that, those private accounts would be worth up to $700 billion by now. Instead, every penny that we workers have put into Social Security is gone. Some of the workers' Social Security taxes went to pay for the Social Security of retirees. The rest of the workers' Social Security taxes went to pay for everything else the federal government does. In other words, of the money we workers have been paying for our Social Security, there's nothing there for our Social Security. Zero. Bush (and McCain) would have up to $700 billion in stocks and bonds in our accounts. Instead, we have zero. Thanks, Democrats.

Just, exactly, how is John McCain collecting Social Security?