Considering the displeasure reportedly voiced by congressionals about Fannie and Freddie golden parachutes for their CEO's when will the elected officials of the government go on Social Security and give up their golden parachutes? Bet Social Security would get fixed last week if this happened.

Considering the displeasure reportedly voiced by congressionals about Fannie and Freddie golden parachutes for their CEO's when will the elected officials of the government go on Social Security and give up their golden parachutes? Bet Social Security would get fixed last week if this happened.
Asked by: AYL Guest

Asked of All U.S. Congress on Sep 24th, 2008

Categories: Money & Politics · Taxes. Tags: Public Fleecing.

Answer from: U.S. Rep. Chris Van Hollen (D-MD)

There’s actually been a misconception throughout the country that members of Congress do not get social security. The fact of the matter is members of Congress do get Social Security and we’ve had a debate in this country as people know over the future direction of that program. My view is that it has been one of the most successful programs coming out of the post depression era, trying to make sure that the senior citizens in this country have dignity in retirement, have a source of income during their retirement, at least something they can depend on and that’s why it’s so important to maintain that a guaranteed Social Security and why many of us were extremely nervous President Bush’s proposal to privatize at least a component of Social Security. And I think as you look at what’s happening in the financial markets today and stock prices, if you had a significant of your retirement, including your Social Security invested in the stock market and you were coming to your retirement period right now, you would really find yourself in a bind because the value of your retirement would have plummeted in recent weeks and that is why its so important that we maintain the security in Social Security.

Answered on Oct 15th, 2008