Ironically, Governor Bush expressed high praise for Social Security while announcing his plan to dramatically change it. Social Security, he said, is the single most successful government program in American history. Without it, more than half of all seniors would live in poverty. Once that basic income source is assured, many people can afford to take a little risk in order to have a more comfortable retirement. McEntee described Social Security benefits as the food and rent money for nearly all recipients.
Responsible people don t risk the food and rent money.
Governor Bush would be introducing risk to a system designed to protect us from it. Bush himself seems to be aware that risk is involved. When asked by The Dallas Morning News on May 15 if, under his program, future beneficiaries could expect to receive no less than under the current Social Security system, Bush answered, maybe, maybe not. He said it was conceivable that workers taking advantage of individual accounts would get a lower benefit. In any type of market investing, there are always winners and losers, McEntee said.