Greater Nashua
Pappas and Shaheen warn against privatizing Social Security
MANCHESTER - U.S. Sen. Jeanne Shaheen (D-NH) and Congressman Chris Pappas (D-NH) recently described the risks of privatizing America’s Social Security system. “The voters of New Hampshire deserve to know where we stand,” Pappas said during the Oct. 27 press conference at his Manchester campaign office. “We have to be committed to shoring up this program.” According to various sources, privatizing Social Security would require converting the system into individual retirement accounts. Those accounts would then be invested in the Stock Market, meaning that monthly payment amounts would depend on market performance rather than the number of years a person has spent working. In the event of a financial downturn, entire savings accounts could be lost. Pappas, who is running for U.S. Senate, said there are currently 350,000 Granite Staters who rely on Social Security. ...
