Yahoo! News - Bush Retirement Accounts Plan Dead: Top Democrat

Yahoo! News - Bush Retirement Accounts Plan Dead: Top Democrat: "Reid said none of the 44 Democrats in the Senate would back a plan that diverts Social Security taxes into accounts that workers would invest in stocks and bonds. Opponents argue it would only add to Social Security's financial problems, force big cuts in benefits and add to ballooning budget deficits."

Social Security does not keep up with inflation, even when inflation is 3% per year. It can hardly be called an investment for anyone, its more like a money-pit! The number one problem for those opposed is that monies invested in the private market are not available for siphoning by bureaucrats. The siphoning began in the 60s when it was deemed 'unconstitutional' to have the money sequestered from the general budget. Greedy politicians, whatever happened to statesmen?!?!

Gimme what I pay into this worthless fund, and I'll take my chances with mutual funds anyday! For those under 30, the new plan would double their money at retirement, still not enough that one would do without their own private plan, but at least a real investment!