Well, the U.S. is running a current account deficit; we are creating lots of investment opportunities in the United States that exceed our own domestic savings rates, so the issue here is to encourage higher savings rates in the United States. ↗
Obviously, people with low or even moderate incomes could not afford such savings rates, and even diligent savings from their low wages would not be enough to pay for either retirement or healthcare. ↗
Social security, bank account, and credit card numbers aren't just data. In the wrong hands they can wipe out someone's life savings, wreck their credit and cause financial ruin. ↗
There's been a lot said about Social Security reform. What has been left out of the debate is the double tax on Social Security benefits. I believe it's time to get rid of a tax that punishes seniors and discourages work and retirement savings. ↗
What we are trying to do is to look at all of those resources and say, well, would they be better spent on just advocacy and information, or can we make savings out of that and redirect them into savings. ↗