PRESIDENT MISLEADS ON SOCIAL SECURITY RATE OF RETURN

[REACTIVATED IN CT]

<snip> In Kentucky on June 2, the President stepped up his efforts to promote his Social Security plan with a claim that private accounts provide a substantially higher return than traditional Social Security without any added risk. The President said:
“Right now, when we collect your money, if you’re a youngster out there working hard and paying into the system, you’ll be displeased to know you get about a 1.8 percent return on your money, which is pitiful, rate of return. Heck, you can put your money in T-bills and do better than that… A conservative mix of bonds and stocks, for example, can yield over a period of time 4.5 percent rate of return. And that difference between the 4.5 percent somebody gets or the 1.8 percent you're now getting over a 30-year period is a lot of money.”<1>
The President’s statement was highly misleading. It went beyond the somewhat more careful statements he has previously made on this matter. <snip>


http://www.cbpp.org/6-6-05socsec.htm

[Justitia]

1. Geez! His every word about Soc Sec is TOTAL fabrication!

There are so many lies and manipulations in his stmts about Soc Sec, you have to correct his EVERY word!

Bush is a HUGE LIAR!!!!

I know we all know this, but damn, how can one man lie so fast and furiously????? I can't keep up!