Tony Snow Quotes

Do I want to see people take their Social Security payments and put them into private accounts, open up an eTrade account and go into the stock market? Absolutely not.

I'm dubious about having Social Security put into the stock market. I think that we have gotten very far away from the idea that there's something sacrosanct about retirement investments.

Our seniors' retirement should never rely on the bull of political promises or the bear of the market.

We really haven't had very much experience with people funding their retirement out of the stock market, and we don't know, frankly, how it would work under every scenario.

Retirement security is often compared to a three-legged stool supported by Social Security, employer-provided pension funds, and private savings.

A lot of the money in the stock market is really our national retirement plan, for better or worse.

To allow all U.S. workers to put part of their earnings into private investment accounts would definitely erode the Social Security system and cause uncertainty for new investors.

Employees did not only have their money in their 401k’s. They had their lives in those 401k’s ... today most people have most of their money in public stocks ... and the government regulates very little of this.

Stock market risk is ok, but not for Social Security.

Since Social Security faces a large gap between what it promises younger workers and what it can afford to pay them, private savings will likely need to play a larger role in retirement planning for younger workers.

But with a rate of return of 1.6 percent or less, or a negative rate of return, our children and our grandchildren, if we do not make changes, will in fact not have a secure retirement. Indeed, they will not have the funds when they go to retire to even minimally get by.

Privatizing Social Security will take dollars out of young folks' pockets.

'Returnless risk' is not how you prepare for a decent retirement.

Social Security has proved far more solvent and sound than anything Wall Street has produced.

Imagine where we would be if Congress had accepted George W. Bush’s privatization plan. The part of Social Security siphoned off to private accounts would have suffered the market’s losses, and recipients would have been forced to live off of basic benefits substantially lower than Social Security presently is.

Ask the shareholders of Enron how they would feel about privatizing Social Security.

Shopping for an annuity with hundreds of thousands of dollars at stake can be daunting, even for an economist.

The next generation is going to have to understand that Social Security is just one leg of a stool. We need to actually bring back that savings incentive, and the only way you're going to be able to do that is if you have a job.

You could lose hundreds or thousands one day on paper and gain it all back the next, and it has literally no effect on your immediate future, provided the money you have in the market is money you're investing for the long haul (meaning at least three to five years).

What we should be trying to do is to encourage people to establish private retirement accounts and help them take pressure off the Social Security system.

From the time I was 8 until now, I've been working. My Social Security is looking solid.

Money isn't everything, but it is when you start thinking about putting money away for your retirement days.

Well, today people have to be self-reliant if they want a secure retirement income.

With or without a Social Security fix, Americans don't have enough assets to retire on. There has to be a much larger debate.

President Roosevelt, the author of Social Security, was the first to suggest that, in order to provide for the country's retirement needs, Social Security would need to be supplemented by personal savings accounts.