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Bush not telling truth about Social Security |
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by Jay Birde
(No verified email address) |
19 Dec 2004
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Social Security is a wonderful system that provides a guaranteed retirement income to millions of workers. It also provides disability benefits to workers and survivor benefits to their children if the worker dies at an early age.
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resident Bush is now trying to convince the American people that Social Security is on the edge of bankruptcy, which simply isn’t true.
Based upon the Social Security trustees’ report, the Social Security program will be able to pay all scheduled benefits through the year 2042, with no changes to the current program. Even after 2042, the system would be able to pay a higher benefit to retirees, based on today’s dollars.
The Congressional Budget Office also found that the system could pay all benefits, with no changes to the system, through the year 2052. Only very minor changes need to be made to the Social Security system to ensure its long-term solvency, not the Bush administration’s radical privatization plan.
It’s important that Americans not allow themselves to be misled Again by the Bush administration’s lies, this time about Social Security. Bush’s privatization proposal would be a give-a-away to the financial industry, which would make hundreds of billions of dollars on privatized retirement accounts. Bush is looking pay-out to the financial industry interests and not those of the people of America. |
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