Seniors skeptical of Bush proposal to destroy Soc Sec for their kids

http://www.usatoday.com/news/washington/2005-02-09-seniors_x.htm


Seniors skeptical of Bush proposal
By William M. Welch, USA TODAY
CRYSTAL RIVER, Fla. — Helene Morris offers her dwindling retirement portfolio as a warning to those considering President Bush's proposal for remaking Social Security with private accounts.
Morris, 69, a former teacher, saw almost half her teacher's pension disappear from 2001 through 2003 because of declines in the stock market. Her monthly retirement check dipped by almost $700. Now she's glad that she has a $1,278 monthly Social Security check to fall back on.

"I'm an example of what can happen if your pension is dependent on the stock market," Morris says. "I feel sorry for the younger generation if they're being sold a bill of goods. I just want them to realize there are risks. I had a master's degree in finance, and I watched the stock market."

For Bush to transform Social Security with private investment accounts, he will need to convince politically active seniors such as Morris and her neighbors in Citrus County and parts or all of seven other counties in Florida's 5th Congressional District. A USA TODAY/CNN/Gallup Poll last month showed that 63% of those 50 and older consider his plan a "bad idea."

Even Bush's assertion that current retirees won't see any reduction in benefits isn't entirely accepted by seniors here. They remain worried about their retirement security and that of their children and grandchildren.<snip>

they are so much more savvy than old folks.....problem is, they haven't lived long enough to see the cycles.....

I mean seriously, I knew it all when I was 20 something...30 something I knew a bit less and now that I'm 50 something...I realize how much I don't know :evilgrin:

I hope the dems (& repubs) stand up to * on this...it is simply an exercise in moving money into the hands of those who already have it & screw the rest of us - for generations to come.....

:-)

US Steel,
J and L Steel,
Bethlehem Steel,
PennCentral Railroad,
TWA Airlines,
AT&T,
General Motors,
Digital Equipment,
Control Data,
Gulf Oil, GAF (Ansco Film),
RCA.

Really picked em.:dunce: