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March 28, 2005

Yet Another Voice Against the Bush Private Accounts Proposal

The 3% per year + inflation clawback is deadly:

NewsFinder: "BOSTON (MarketWatch) -- Personal Social Security accounts could bring more risk than reward to investors, and would shift more responsibility for saving for retirement to individuals, Standard & Poor's said Monday. 'The key question is whether an individual account holder can build enough money in savings to retire comfortably while withstanding any inevitable investment risk,' said David Blitzer, chairman of the index committee at S&P. Given the risks in the market, not all aggressive savers will retire with ease, S&P said...

Posted by DeLong at March 28, 2005 07:15 PM