Originally published July 11 2005
Social Security reform has a solution, says commentary author
by Mike Adams, the Health Ranger, NaturalNews Editor
In an opinion piece for Blogcritics.org, Bob Greenspan, without agreeing or disagreeing with President Bush's plans for Social Security reform, notes that nobody else is putting forward a solution, and therefore does so in a recent column.
Ever since President Bush started discussing the reformation of Social Security I have read numerous articles criticizing his plans, both by Republicans and Democrats.
But I have yet to see anyone else put forth a plan of their own.
So I thought since I share the same last name with Chairman Greenspan I would come up with a plan of my own and let you all criticize my plan.
This guru was saying that he could guarantee a return of at least 3.75% to 4.0% on the private accounts the President wanted to create.
The President then turned to the cameras and said that is a lot better than the 1.75% to 2.0% you (the American People) are currently getting.
1. Place the Social Security Private account money into federally chartered Savings & Loans or Banks.
4. Pay the S & L's and Banks 1.0% return for their administration of the program.
This guarantees money for Americans to purchase homes at 5.0% interest and it stimulates the economy by boosting home sales at a fair rate plus grows the private Social Security accounts by 4.0% per year.
Under the current system you could work and pay into Social Security for 50 years, retire and drop dead or get run over by a truck and killed.
Sure, I know, everyone says the stock market is a better deal and should in the long run provide more than a 4% return.
Why would a Savings and Loan or Bank want to participate?
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