We explore just how “moderate” these reforms are, and what exactly they do to solve the system’s long-term deficit.
We find that brokers netted only 16 cents in fees to manage a $10,000 retirement account under the federal retirement system on which Bush is modeling his private Social Security accounts.
That term could give the wrong idea. Bush also makes private accounts sound like a sure thing, which they are not.
Liberal group’s ad falsely claims Bush plan would cut benefits 46 percent.
Bush and Cheney say yes. But actuaries say the figure is “likely to mislead” the public on the system’s true financial state.
Pro-Bush group’s first TV ad states the problem correctly. But the AARP uses a misleading photo.