Cicilline’s “Saving Social Security”

29Sep10

David Cicilline is up to old political tricks.  Spin the opponent’s take on an issue into a lie, and then repeat it over and over again to people who will never be affected by it.  But most voters are too lazy to really research an issue, too lazy to really dig in and learn what each side is saying.  If they did, they’d clearly see that David Cicilline is lying.

Cicilline is running around Rhode Island with tinfoil pans of chicken and pasta telling the seniors in the high rises that in Congress he will “save Social Security” as his opponent wants to privatize it and put it all in the stock market.  We’ve seen in recent years how the stock market will do.   These poor seniors living week to week on their social security benefits will see that money disappear off to some greedy Wall Street banker if his opponent is elected.

Nothing could be further from the truth.  I really hope that the ProJo’s PolitiFact checker will look into this one, because it would clearly be a “Pants on Fire”.

John Loughlin’s comment on this?

I have a rock solid commitment to making sure that nothing touches Social Security benefits for Rhode Islanders who depend upon them, is that younger workers should have the option, and the key word there is option, at their choosing, to invest a small portion of their payroll taxes in other vehicles that can provide a better return,” the Tiverton lawmaker said. “But nobody’s forcing anybody into anything.

Let’s read that.  He wants to let people optionally, put a portion of their social security benefit into the stock market.  There is nothing forced, nothing required, not touching anything that someone doesn’t specifically want touched.

This sounds like a great idea to me.  Over any 20 year period, the stock market will increase at a greater rate than the social security benefits increase, if they will be there at all in 20 years or so.

Yeah, but the stock market has tanked over the last 10 years, what if you were retiring now?

Again, this is voluntary and only a portion.  It’s a best step for people who are not retiring any time soon.  This is not for people looking to make a quick strike and retire rich.

A down stock market is perfect for young people.  We can buy stocks for cheap and then over the long haul, 20+ years or so, watch our benefits go up with the stock market.  Then when we get closer to retirement age, move into safer investments.

So Cicilline is back to his lies and deception.  It’s nothing new from this mayor.  I just wish that people would see through it and get the real story…from John Loughlin.

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