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Some more AARP hypocrisy...
June 06th 09:27:56 AM
At the 35th Pennsylvania Homecare Association Conference last Tuesday, AARP’s CEO Bill Novelli stated that the current Social Security is the best pension plan for Americans.
“It is a risk-free guaranteed pension,” Novelli claimed, repeatedly referring to it as a “safety net.”
However, Novelli has his facts wrong. Social Security is NOT guaranteed, and the American government is NOT entitled to give us any of the money it takes in the name of Social Security.
Furthermore, unless something is done, Social Security will start spending more than it takes in by 2017 and will be bankrupt by 2041. Novelli admitted that Social obligated needed reform, yet said that investing in private accounts would be too risky.
Later, however, in the same speech, Novelli encouraged investment in 401(k) plans – plans that invest in bonds and mutual funds.
After this flip-flopping of positions, the question I have for Bill Novelli is, “Why all the hypocrisy?"
Posted by Zack Stiefler
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