social security update

Josh Marshall at Talking Points Memo has a “fantastic explanation of the Bush administration’s ‘solution’ to the Social Security ‘crisis’”: In short, both the ‘crisis’ (reduced benefits starting in 2041) and the ‘solution’ (reduced benefits starting in 2012) are the same.

The CBPP has kindly provided the “numbers to back that up”:, showing that the President’s plans don’t even solve the solvency problem they claim to solve. Instead, they create trillions of dollars in new debt for no reason at all.

2 thoughts on “social security update

  1. I’m not sure how the caps work, but I think there are two: a cap on how much of one’s income is taxed, and a cap on how much of one’s income counts toward the determination of benefits.

    (BTW, I updated the URL in Nicole’s comment to be a link.)

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