Excerpt from Bush's State of the Union address on 2/2/2005
"Here is why personal accounts are a better deal. Your money will grow, over time, at a greater rate than anything in the current system can deliver, and your account will provide money for retirement over and above the check you will receive from Social Security."
That sounds like a guarantee. Is Bush guaranteeing that money invested in the stock market will always earn a positive return? I may be an M.B.A. drop-out, but I know the stock market fluctuates (that means it goes up and down). Funny, Bush didn't mention that in his speech. Maybe he forgot about the recent recession. Forgive me if I don't forget that I was downsized three times in four years, Mr. President. Bush 43's guarantee that the stock market will always pay off for retirees sounds like a lie on par with Bush 41's "read my lips: no new taxes". I don't know if Bush's plan for Social Security is good or bad, but I know the money invested in private accounts is not guaranteed to produce a return.
One thing is guaranteed: investment firms can't wait to line their pockets with the broker fees.I learned that in Business Ethics 101.
*underlining mine for emphasis.
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