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October 20, 2004

US ELECTION: Policy Memo: Kerry's Social Security Attacks

BnkIt Is Wrong To Assign Numbers To A Particular Proposal That President Bush Has Not Endorsed. The President has not put forth a specific proposal but has advanced a conceptual approach to strengthening Social Security. The concept is to allow young workers to voluntarily set aside a small portion of their payroll taxes in a personal retirement account in Social Security.

Kerry Fabricated The $2 Trillion Figure For The Costs Of Personal Retirement Accounts. This figure is nowhere to be found in the 2004 Economic Report of the President, the Congressional Budget Office's analysis on Model #2 from the President's commission, or in analysis from the non-partisan actuaries of the Social Security Administration (SSA).

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Posted by Tom Troceen