Saturday, June 18, 2005

Come on, which part don't you understand?

Subject: President Bush Explains His Social Security Plan

WOMAN IN AUDIENCE: I don't really understand. How is the new plan
going to fix the problem?

PRESIDENT BUSH: "Because the -- all which is on the table begins to
address the big cost drivers. For example, how benefits are calculated,
for example, is on the table. Whether or not benefits rise based upon
wage increases or price increases. There's a series of parts of the
formula that are being considered. And when you couple that, those
different cost drivers, affecting those -- changing those with personal
accounts, the idea is to get what has been promised more likely to be
-- or closer delivered to that ! has been promised. Does that make any
sense to you?

It's kind of muddled. Look, there's a series of things that cause the
--like, for example, benefits are calculated based upon the increase of wages, as opposed to the increase
of prices. Some have suggested that we calculate -- the benefits will
rise based upon inflation, posed to wage increases. There is a reform
that would help solve the red if that were put into effect. In other
words, how fast benefits grow, how fast the promised benefits grow, if
those -- if that growth is affected, it will help on the red."

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