security as an idea you are saying we need to repair how it functions. how do you restore american prosperity? do you keep going on with the myths and inflate your way out of a problem like social security or do you face them and say we lied to you, the state lied to you, it was unsound. it was a ponzi scheme. let s deal with this. john: we shouldn t have the social security programs because it changes attitudes about saving for yourself? that is the best point. it does change the fundamental character of the people that somebody else will take care of the retirement benefits, healthcare benefits. so instead of being a nation of savers, creating pools of capital that make us all richer. we spend like crazy. in the meantime, the chinese are saving at a world class inrecords of saving. john: chinese don t assume that mom or government will take care of them? they know better.
myths and inflate your way out of a problem like social security or do you face them and say we lied to you, the state lied to you, it was unsound. it was a ponzi scheme. let s deal with this. john: we shouldn t have the social security programs because it changes attitudes about saving for yourself? that is the best point. it does change the fundamental character of the people that somebody else will take care of the retirement benefits, healthcare benefits. so instead of being a nation of savers, creating pools of capital that make us all richer. we spend like crazy. in the meantime, the chinese are saving at a world class inrecords of saving. john: chinese don t assume that mom or government will take care of them? they know better. most american people don t believe they need to work hard or save becauseat the end of their working age the government will come in and save to them. you are making a huge leap because americans don t save
security as an idea you are saying we need to repair how it functions. how do you restore american prosperity? do you keep going on with the myths and inflate your way out of a problem like social security or do you face them and say we lied to you, the state lied to you, it was unsound. it was a ponzi scheme. let s deal with this. john: we shouldn t have the social security programs because it changes attitudes about saving for yourself? that is the best point. it does change the fundamental character of the people that somebody else will take care of the retirement benefits, healthcare benefits. so instead of being a nation of savers, creating pools of capital that make us all richer. we spend like crazy. in the meantime, the chinese are saving at a world class inrecords of saving. john: chinese don t assume that mom or government will take care of them? they know better.
you see these people here stationed right out front of this annual meeting of wells fargo. this comes on the heels of city group shareholders, refusing to give a multimillion-dollar package to its ceo. the shareholders voting against it nonetheless. it was a nonbinding vote. but proof that even some of these shareholders are concerned about the climate or the temperature that is happening within the banking world. the banking industry. here you have, these are protesters, not shareholders, the entrance to an annual meeting of wells fargo shareholders in san francisco. dozens of police officers are stationed around this building where the protesters associated, we re told, with the occupy wall street movement. try to crash into that building where the meeting is underway today. we ll keep an eye on the events playing out there in san francisco and bring you any developments. and there are new concerns about social security programs after an annual government report shows they will run
more and more pressure being placed on financing our medicare, medicaid and social security programs. so at a time when the recovery is still gaining steam and unemployment is still very high, the solution should be pretty apparent. and that is even as we continue to make investments in growth today, for example, putting some of our construction workers back to work rebuilding schools and roads and bridges or helping states to rehire teachers at a time when schools are having a huge difficulty retaining quality teachers in the class room, all of which would benefit our economy. we focus on a long-term plan to