NewsFlash: August 12, 2008
Young workers and Social Security
Advocates of dismantling Social Security in favor of a riskier privatized retirement plan have been spreading fears that shortfalls in the system will leave today’s young workers out in the cold. A new analysis from a young researcher at the Economic Policy Institute, timed to the program’s 73rd anniversary, shows that those fears are unfounded. Alexander Hertel’s analysis of the Congressional Budget Offices’s 2006 Social Security projections shows that not only will Social Security still be there when today’s 20-somethings turn 65, the real-dollar value of its benefits will be even greater than today.
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