Tuesday, December 14, 2004
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Yesterday's N.Y. Times reveals that most Republican proposals to save Social Security rely upon deep cuts to future beneficiaries to make up for anticipated shortfalls in the Social Security Trust Fund.  According to the piece:

Some of the Republican proposals would raise the age when people can start to receive benefits. Others would reduce payments to beneficiaries to account for longer life expectancies. Still others would reduce payments to married couples and scale back the annual increases that are made to keep pace with inflation.

But the biggest single idea is included in the plan the White House most often points to, abandoning the practice of setting benefits as a share of people's pre-retirement earnings.

Critics of the administration contend that Mr. Bush is using the tangible allure of personal accounts to mask a profound reduction in the government's main safety net for the elderly.

As usual, with this Administration you don't get all the facts.  Citizens should be aware that other options, such as raising the cap on payroll taxes, could go a long way towards narrowing the gap.  Stay on top of this story, stay in contact with your representatives and make sure that Social Security is not destroyed.

RW