Cassidy's "plan" to solve Social Security?

1.5 trillion dollars can shift markets. I wonder who might be privy to what it is going to do in the near future.

That’s a very old idea. It’s gotten shot down for decades because liberals thought it to be advantageous to Wall Street since fhr money would be invested in the stock market

He's got 6 months left (2 months of that will be vacation), why are we giving him any press?

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The “big idea” calls for the federal government to set aside $1.5 trillion in an investment fund separate from Social Security’s trust funds.

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Cover for "We need to figure out another way to get ourselves paid and fund USAID"

He needs to be shopping for lobbying job

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Ok. So does anyone here know what his big plan is, other than stating some money needs to be set aside in a trust fund, like it used to be? Where's this money coming from? I can only find borrowing is his big plan.

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Here is my big idea if anyone is listening.

Keep the traditional formula to fund current retirees. But increase the amount of money that can be withheld for retirement planning pre tax and increase employer matching up to 20% of annual income up to 50k a year. Those additional funds above the normal withholding would go into a Social Security IRA fund that will have government backed gains of a minimum of 8% plus inflation. This money would be invested in a mix of bonds and stocks managed by a mix of companies on behalf of the government. This additional money can be withdrawn tax free after age 60 without penalty or with a penalty if withdrawn earlier as lump sums or a monthly payment to make retirees whole if we reach the 20% cut threshold. The money is the individual retirees and at time of death like some pension plans would be paid out to a beneficiary minus any payments from the fund.

At the end of 30 years that max of 100k in contributions would come out to a nest egg of 7 to 12 million dollars, and traditional Social Security could whither on the vine at some point.

frick that irrelevant clown

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Al Gore called from 26 years ago. He wants his "Lock Box" idea back.

Truth is we should have implemented W's partial privatization idea back in 2000.

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The smart thing to do would be to move part of the "Trust Fund" into our major stock indexes when the market is way down as it does every decade or so.

The stock market has averaged about 9% gain per year over the last 40 years. The SS "Trust Fund" racket often pays an interest rate that is lower than the rate of inflation.

No matter what, it good to see Cassidy booted to the street.

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frick that irrelevant clown

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He's acting like the HS girl who doesn't get invited to the prom and it turns her into a total bitch.