Name what you would do to turn the economy around

[joeydb]

Originally Posted by jms62

So it basically comes down to this.

I agree with your no income tax until the balance is repaid. The self directed thing is not a good idea as SS should be a safety net and not someones sole retrirement. The self directed stuff most of us already do.
If SS was self directed we both know Wall Street will find a way to pick everyones pocket. The consequences would be devestating.

Well, people should be able to opt-in to a safety net in the same way that people buy their own level of insurance for their needs. And if SS was a good safety net, it would actually bear a yield to the individual, instead of actually getting a loss.

If they actually did phase it out tomorrow I would absolutely use at least that same 10.4% in something safe. Today I'd probably buy gold with at least part of it. If I did invest it on Wall Street, it would have to be with a large company that isn't going away anytime soon, with a tangible product, not one of these banks or investment houses. Something like an Apple or Microsoft, maybe some ExxonMobile.

I would not squander it as "found money". And having a little faith in my fellow citizen, I think the number of people who would is lower now due to the economic crisis. I think many would listen and redirect those funds to a lower risk investment promising some yield.