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McCain Defends Retirement Accounts Amid Stock Dive

By: AP
By: AP

GREEN BAY, Wisc. (AP) _ John McCain finds himself having to defend his support for privately investing Social Security money amid this week's Wall Street turmoil.

McCain says all options must be considered to stave off insolvency for the government insurance and retirement program, and top McCain advisers say that includes so-called personal retirement accounts.

Campaigning Friday in Michigan, McCain says the worst thing to do when the system is ``going to go broke'' is to pass on to another generation more unfunded debt.

Barack Obama opposes the personal retirement accounts as privatization of Social Security. McCain's campaign doesn't like the characterization, saying there's no talk of outsourcing the program to the private sector.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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