Comments on: Since McCain Proposed Social Security Privatization In 2000, Stock Market Has Swung Wildly, Dropped 8% http://wonkroom.thinkprogress.org/2008/09/18/ss-privatization/ Thu, 26 Nov 2009 16:42:01 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: Mugsy http://wonkroom.thinkprogress.org/2008/09/18/ss-privatization/comment-page-1/#comment-2352 Mugsy Thu, 18 Sep 2008 21:00:56 +0000 http://thinkprogress.org/wonkroom/2008/09/18/ss-privatization/#comment-2352 The Monday after President Clinton's last day in office, the DJIA closed at 10,587 (down from its January, 2000 peak of 11,722. On Wednesday, the DOW closed just <strong>22 points</strong> above that Clinton close. When Bill Clinton took office in '93, the DOW was around 3,700 points. By the time he left, it has increased over 300% (or a 67% increase in it's closing value), sparking the "Social Security Privatization" debate (saying private investment would have yielded a greater return). By contrast, Bush's 22-point rise in eight years is equivalent to a 0.21% increase in the value of the market (and that's WITHOUT factoring inflation and the devaluation of the dollar). <strong>Just imagine</strong> how that would of devastated Social Security recipients had they of gambled their retirement in the Bush stock market. The Monday after President Clinton’s last day in office, the DJIA closed at 10,587 (down from its January, 2000 peak of 11,722.

On Wednesday, the DOW closed just 22 points above that Clinton close.

When Bill Clinton took office in ‘93, the DOW was around 3,700 points. By the time he left, it has increased over 300% (or a 67% increase in it’s closing value), sparking the “Social Security Privatization” debate (saying private investment would have yielded a greater return).

By contrast, Bush’s 22-point rise in eight years is equivalent to a 0.21% increase in the value of the market (and that’s WITHOUT factoring inflation and the devaluation of the dollar).

Just imagine how that would of devastated Social Security recipients had they of gambled their retirement in the Bush stock market.

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