From Sunday Morning Talk:
Senator George Allen (R-VA) may have gotten in a bit over his head, this morning, on Meet the Press. On private accounts, he suggested that Americans might have to sell their homes to survive in retirement. But, that would be a good thing, because they wouldn't have to trim hedges and cut grass, he noted.
In fact, he was trying to reassure people who are uncomfortable about investing in the stock market with private accounts. So, he recognized that those who do, might reduce their retirement savings in the event of a market downturn (I hear those happen once in awhile). But, he thinks allowing your own home to be your investment would get around that. Although, it would force you to sell it when you retire in order to feed yourself.
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