A billboard is a great idea.
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http://msnbc.msn.com/id/7698687/SEN. ALLEN: I do not care to reduce the retirement security for those particularly middle-income working people. I think what we ought to be looking at is ways to enhance and strengthen their ability to save for themselves, be responsible in the case they need assisted living.
MR. RUSSERT: Well, then, you have to raise taxes. You either have to cut benefits or raise taxes.
SEN. ALLEN: There are a variety of other options that can be looked at as far as the solvency of Social Security, but then there are others...
MR. RUSSERT: Such as?
SEN. ALLEN: Oh, you could look at a lot of different things.
MR. RUSSERT: Raise eligibility age?
SEN. ALLEN: That's one.
MR. RUSSERT: Cost-of-living increases?
SEN. ALLEN: Correct.
MR. RUSSERT: You'd look at all those?
SEN. ALLEN: Well, I think they all have to be on the table and see the entire package. But then you also need to look at a package that also ought to be looking at making sure that investments in stocks or bonds or others, are--the taxes are low so that people of, let's say, middle or lower income can avail themselves of these investments. And moreover, in the event that a personal savings account approach is taken, allowing them to invest in a home in addition to right now it's stocks, bonds and other financial instruments, if people can invest in their own home, they'll know it. They'll understand it. They'll take care of it. And they'll enjoy it and they don't have to worry about mergers and acquisitions and scandals and market share.
And by the time they retire, they're going to have a pretty good nest egg there and they don't need as big a house, usually, because they don't want to be cutting grass and trimming hedges, and that is good for the economy as well. So I'd want to look at as a broad package, not just in the narrow aspect of Social Security, which is important, but also let's look at other ways, additional ways to allow working people in this country to save for their own retirement.
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