Bill Nelson: “I am surprised that the Bush administration is sticking by its proposal to allow workers to divert some of their Social…”

“I am surprised that the Bush administration is sticking by its proposal to allow workers to divert some of their Social Security into private accounts of the stock market instead of there being a defined benefit that would give the Social Security retiree the security, the knowledge, the confidence that when their retirement years came, they knew they had a certain amount they could rely on, even though most retirees are going to have to supplement that Social Security benefit, but at least they would know that benefit was there and was not going to evaporate if, in fact, the Social Security privatized account was invested in stocks that had suddenly taken a turn going down. That is the essence of what I wanted to share.”