Interesting chart -how much you lose w/ Bush-it's more than doing NOTHING

Interesting chart -how much you lose w/ Bush-it's more than doing NOTHING


expected to get less than if we do nothing but he needs $4.5 TRILLION to "shrink" government in this way?

'Cause bein' preznit is hard work

Britain believes privatization was a mistake and they were thinking of going back the American SS system.

http://www.atrios.blogspot.com

In the New York Times article, in the first 20 years of privatization, it would cost $4.5 trillion dollars to shore up a system projected to run a $3.4 trillion deficit over 75 years. Bush wants to commit the government to an unnecessary extra $1.1 trillion of spending

http://www.cbpp.org/2-2-05socsec2.htm

"You'll be able to pass along the money that accumulates in your personal account, if you wish, to your children . . . or grandchildren," Bush said last night. "And best of all, the money in the account is yours, and the government can never take it away."

The plan is more complicated. Under the proposal, workers could invest as much as 4 percent of their wages subject to Social Security taxation in a limited assortment of stock, bond and mixed-investment funds. But the government would keep and administer that money. Upon retirement, workers would then be given any money that exceeded inflation-adjusted gains over 3 percent.

That money would augment a guaranteed Social Security benefit that would be reduced by a still-undetermined amount from the currently promised benefit.

In effect, the accounts would work more like a loan from the government, to be paid back upon retirement at an inflation-adjusted 3 percent interest rate -- the interest the money would have earned if it had been invested in Treasury bonds, said Peter R. Orszag, a Social Security analyst at the Brookings Institution and a former Clinton White House economist.

They're want to limit the types of funds that can be invested in to very conservative investments. But they have Joe Sixpack believing that he is going to make a bundle with this plan.

Did you hear the part where * said in the SOTU that you're not going to be allowed to take out a lump sum whenever you want to ? What happened to "its your money" ?