Political Quotes

Tim Ryan: “And, Mr. Speaker, when you look at when you would want to actually take out the money, our colleague, the gentleman from…”

On the recordApril 5, 2005
And, Mr. Speaker, when you look at when you would want to actually take out the money, our colleague, the gentleman from New York (Mr. Weiner), who was here a few weeks ago with us, had a great explanation. The stock market goes up. The stock market goes down. The stock market goes up. The stock market goes down. Well, what if you are going to retire at the wrong time? What if you were planning on retiring in 2001, 2002, and your private savings account was cut in half? Now all of a sudden you are not retiring. Social Security grows at a steady pace and keeps up with inflation and makes sure that you would be able to maintain the kind of buying power that you would normally have, and it is stable, and it is safe, and it is guaranteed.
Said by
Tim Ryan
Democratic · Ohio

Editor's note · Context

Discussing the stability of Social Security compared to private savings accounts during retirement.

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