Letter: Economy has been destroyed

Thursday, Dec. 27, 2001 | 8:29 a.m.

It has now been a complete year since the Bush administration destroyed the economy.

How can I tell? Well it's like this. My retirement portfolio during the eight years of Clinton lost a total of $18.75 but gained overall by roughly $11,000.

Since the selection last year, in December 2000 I lost $2,175 that month alone. Overall in 2001, January through November, I lost this year $4,897.

I don't think I can afford to continue these losses. As I see it, right now I would be better pulling everything out and putting it in CDs.

At first I thought, well, my losses will rebound and at least there is still Social Security. But as this administration has pulled out all the surpluses, and has now put us in a deficit mode again, I doubt it will be there either.

No real surprise there, is it?! The Republicans have wanted to bankrupt Social Security since its inception. You may ask: Why?

Simple: They don't want all that money tied up for the masses. To them it's idle money they can't touch.

After all, they need all they can get to line their constituents' pockets (Enron, for example).

So now, my question to the working and unemployed is this: Can your afford to invest your Social Security in the stock market? This is not something to take for granted.

Tomorrow comes way too early for the working class and those who are out of work.

LARRY ENGELS