Sunday, February 06, 2005

You Betcha

President Participates in Social Security Conversation in North Dakota (White House Press Release)

THE PRESIDENT: I know some of you are saying, well, gosh, if I put my money into the stock market, what happens if the market goes down the year before I retire? There are instruments that are devised or available -- will be available for younger workers when they get ready to retire to invest -- to ensure against a downturn of the market. In other words, it's a different kind of instrument. You still get a better rate than you would in the current trust, but it's a way to make sure that the money isn't lost all at once. But on the other hand, history shows that over any 17-year period of time, you don't lose money in the market -- on safe, conservative stocks and bonds. It is a fact of life. It is a way that our markets have worked in the past. (Applause.)

Now, I don't want to accuse Mr. Bush of overselling his product, but if he were my personal investment advisor I'd end the business relationship right there.

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