Can You Afford to Gamble Away Your Social Security?

Just like George Bush, Republican John McCain supports Social Security privatization, which would take money out of the Social Security Trust Fund and create private accounts tied to the roulette wheel of the stock market.

With all the turmoil on Wall Street, would you trust the stock market with your Social Security benefits?

A few more reasons why Social Security privatization is a gamble we cannot afford to take:

• The cost of living has increased 21.5 percent since 2001. (Bureau of Labor Statistics, 9/14/08)

• The U.S. Energy Department is expecting home heating oil to cost 30 percent more this winter. And a 19 percent increase for natural gas. (Associated Press, 9/9/08)

• Bread prices are up 41 percent since 2001; Ground beef, 37 percent; Eggs nearly 100 percent. (Bureau of Labor Statistics, 9/12/08)

• Home values have fallen 4.8 percent in the past year – back to 2005 levels. (U.S. Department of Housing and Urban Development, 8/26/08)

• 28 percent of all mortgage delinquencies and foreclosures are for homeowners over age 50. (U.S. News and World Report, 9/22/08)

John McCain has voted three times with Republicans and George Bush to privatize Social Security (Vote 68, 3/6/06, Vote 56, 4/1/98, Vote 77, 4/2/98)

Democrat Barack Obama strongly opposes privatization. Obama’s plan strengthens Social Security for retirees today and in the future.