On: There Is a Significant Need for Retirement Savings in the US

[frgtpsswrdlame]

>I think we should revisit the policy of an actual forced savings account - rather than the bad proxies for it: social security, home equity, 401k.

I think social security is a far better setup than forced savings account. The fact that it's much harder to raid, that it's not really 'your money' locked up somewhere is a big reason why it has lasted as long as it has.

[UncleEntity → frgtpsswrdlame]

> The fact that it's much harder to raid...

Unless you're the government and can 'borrow' the money, from yourself, as part of some creative accounting scheme. Thanks Reagan.

https://www.fedsmith.com/2013/10/11/ronald-reagan-and-the-gr...

[grandempire → frgtpsswrdlame]

Social security is simply paying out current obligations with current receipts. There is no savings or investment.