Retirement, Pensions, & Social Security

Right now in this political campaign, both sides are trying to scare people by saying this other guy will destroy Medicare. No one is going to destroy Medicare.

We do need to put Social Security back on a firm foundation for the future. It is really stupid to wait to do that. We need to assure people currently in the labor force and entering into it that Social Security will be there for them and that they can plan around it.

People have lost their appetite for risk. They’ve been burned by the stock market. They’ve suffered through capital losses on their homes. And so they’re hunkering down in what they view as the safest place to store money.