Social Security Correction
Wednesday, February 9, 2005(Metropolitan Washington Council, AFL-CIO)
The Bush proposal to “save” Social Security will actually cost the
average worker $152,000 in retirement benefits, according to the Center for
Economic and Policy Research (CEPR); we neglected to cite our source in
Monday’s report (Destroying Social Security To "Save" It 2/7/05). The
CEPR also questions the Bush proposal to privatize Social Security since the
current program is "extremely efficient. The Administrative costs of Social
Security are just 6 cents of every dollar" versus the 15 cents per benefit
dollar that it costs British citizens for their system of private accounts. CEPR
is a DC-based think tank created in 1999 that "conducts both professional
research and public education" so that "the public is better prepared to choose
among the policy options." It is funded primarily through foundation grants.
Take action and stop the Bush scheme to privatize Social Security: sign the Working
Families’ petition here.