Julie with a B

Wednesday, March 09, 2005
 
Cheney on the Social Security stump
From Bloomberg via TPM: " Vice President Dick Cheney has been President George W. Bush's go-to guy on national security. Now Bush is counting on Cheney to do the same on Social Security."
" Bush is mounting a full-court press for private accounts, the keystone of his plan, as polls show rising skepticism about the president's proposals. Republicans and Democrats alike think Cheney can be a formidable ally for Bush on his most important domestic policy, though some question how effective anyone other than the president can really be."

Information to remember from Annenberg:
"President Bush and Vice President Cheney have told audiences that Social Security faces an $11 trillion shortfall if nothing is done to fix the current system. But they fail to mention that this is over the course of the “infinite future." Over the next 75 years -- still practically a lifetime -- the shortfall is projected to be $3.7 trillion.

The "infinite" projection is one that the American Academy of Actuaries says is likely to mislead the public into thinking the system "is in far worse financial condition than is actually indicated," and therefore should not be used to explain the long-term outlook."


- posted by JulieB @ 8:18 AM
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