Brad DeLong on the Bush Social Security Plan:
Did nobody inside the White House bother to run the numbers?
If you are 45 and if Bush's plan were available today...
Follow George W. Bush's advice, divert $1,000 into your private account, invest it in TIPS, and at the 1.85% per year interest rate you will indeed by able to collect an extra amount worth $10.11 a month in today's dollars when you retire at 65...
But the clawback would reduce your normal Social Security benefit by $14.16 a month. You're $4.05 a month behind.
They probably did but think your just too dumb to notice.
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