Over the past week American’s retirement accounts have lost over $2 trillion:

Americans’ retirement plans have lost as much as $2 trillion in the past 15 months, Congress’ top budget analyst estimated Tuesday. The upheaval that has engulfed the financial industry and sent the stock market plummeting is devastating workers’ savings, forcing people to hold off on major purchases and consider delaying their retirement, said Peter Orszag, the head of the Congressional Budget Office.

Imagine what those losses would have been if George Bush and John McCain had gotten their way and privatized Social Security. A generation of Americans would not have been able to retire.  

Yet John McCain still supports private accounts: