Thursday, February 17, 2005
* Social Security
Just because I haven't been posting on social security doesn't mean that I haven't been following it. I'm not as opposed to private accounts as some are -- if we had an extra $10 trillion sitting around and didn't have to borrow anything to make it work, it would be an ok (although low priority) thing for the government to do. Borrowing to make it work is ridiculous, however.
Anyway, the best thing about the whole story is that it's looking more and more like an albatross for Bush. Today the Senate Democratic Communications Center created this Social Security calculator to show what kind of benefits you might lose under Bush's plan. It's a nice piece of work.
If you do check it out, you'll notice that unless your salary is really low, the only variable that makes any difference is age. As a 35-year old, I'm down 22%. In theory.