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Wednesday, April 06, 2005

Leaked Study Paint Grim Portrait for Social Security

As Republicans reconvene after a two week break and vow to push forward with their Social Security plan, yet another study is leaked that paints bleak, but hypothetical, furture for some workers. The core of the study suggests that, hypothetically, someone born next year, earning about $56K as an adult, and investing the maximum 4% in the private accounts along with the proposed changes in the Social Security program, could possibly be receiving all his Social Security income from the private accounts alone. Not good, since the President says that it would help solve the problem. Republicans have fired away at the study's results, and they have a point. The study takes proposed changes such as cutting benefits and price indexing as a given, even though the President has said he will consider them, nothing is final. Still, with an unpopular position in the Social Security deabte, the Republicans are not particularly happy with the leaked study.
Accounts Could Replace Soc. Sec. Checks

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