John Moltz

Killing Social Security

If you're having trouble figuring out the whole Social Security debate, Josh Marshall has lengthy, but worth while post that helps explain why, yes Virginia, George Bush is trying to kill the program.

Short story: Social Security was designed as a defined benefit plan - where you could count on what you'd get out of it later in life. Bush wants to replace that with a defined contribution plan - where you determine how much you put in, but what you get out later depends on market performance.

That, kids, is killing Social Security.