Arizona is a swing State. Greenspan's proposal to reduce Social Security doesn't play well there.
What the Valley says about Social Security
Feb. 27, 2004 12:01 AM
VALLEY REACTIONS
Here's what people around the Valley had to say about Federal Reserve Chairman Alan Greenspan's comments and Social Security's viability:
Sally Cecil, 51-year-old marketing representative who lives in Chandler: Has been investing on her own through 401(k)-style retirement plans, individual retirement accounts and other vehicles. Cecil said she doesn't like Greenspan's proposal but isn't surprised by it given Social Security's financial shape. "I didn't figure, way back when, that the money would be around for me," she said. "Now I figure that's even less likely."
Evan Polasky, 22-year-old Costco sales representative who lives in Tempe: Started contributing to a 401(k) plan at work almost five years ago and keeps at it. "My father emphasized the need to start early and invest as much as possible," he said. Polasky thinks Greenspan is justified to rekindle debate on Social Security's viability. He worries that the system won't have enough assets to assist members of his generation after funding retirement for the massive baby boomer generation.
Jan Sullivan, 62-year-old winter visitor from Minnesota who recently retired and began drawing Social Security benefits: She and her husband, Jim, have been investing heavily on their own, in 401(k) plans and other types of accounts. Sullivan doesn't think Greenspan's suggestion is justified. "I usually listen to him, but I don't like what's he saying now," she said. Social Security finances, in her opinion, are adequate, but she wonders whether government officials want to divert some of the money for other purposes.
Rhonda Moret, 38-year-old small-business owner who lives in Ahwatukee: Invests in individual blue-chip stocks, using IRAs and other accounts. She and her husband also are thinking about making direct investments in real estate but haven't done so yet. Moret said she isn't personally relying on Social Security being there when she retires, but she worries about the effect on others. "If those funds aren't available, what will it do to the economy?"
James King, 22-year-old athlete who lives in Chandler: Hasn't done much investing on his own yet. King said he opposes proposals to reduce benefits for future retirees. "The idea of working for 20 or 30 years, paying your dues and not getting Social Security just isn't fair," he said. "If you're paying taxes (to support the system), you're paying them for a reason." |
