Social Insecurity Part II
For those of you having trouble understanding the impending doom and gloom on it's way courtesy of Bush's Social Security Pritization Plan (assuming it is the same as Plan 2 of the President's Commission to Strengthen Social Security, otherwise known as CSSS Plan 2), Kevin Drum offers us some nice pretty charts that explain it quite well. These charts come from the non-partisan Congressional Budget Office.
Chart one shows us that Social Security, as it is now, even with the trust find becoming insolvent in 2053 and benfits being suddenly cut by 20% is a better option than CSSS Plan2.
Chart number two shows us that even when you add in the private account money, assuming stock market returns of 6.8% and total portfolio returns of 5.2%, the current situation is STILL better.
You would think this would be no-brainer. Either leave it as it is, or come up with a plan that actually works.
Chart one shows us that Social Security, as it is now, even with the trust find becoming insolvent in 2053 and benfits being suddenly cut by 20% is a better option than CSSS Plan2.
Chart number two shows us that even when you add in the private account money, assuming stock market returns of 6.8% and total portfolio returns of 5.2%, the current situation is STILL better.
You would think this would be no-brainer. Either leave it as it is, or come up with a plan that actually works.
posted by cookie christine @ 1/05/2005
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