Bush's Social Security Plan Would Reduce Government Guarantee for Younger Americans - from TBO.com

Bush's Social Security Plan Would Reduce Government Guarantee for Younger Americans - from TBO.com:

"Near-retirees 55 and older would receive Social Security benefits without any changes under President Bush's proposal for personal accounts, but the government guarantee would fall for younger workers, congressional Republican officials said Wednesday.

These officials said that under Bush's blueprint, the reduction in the federal benefit for Americans younger than 55 would be larger for those who establish personal accounts than for people who do not, on the assumption that investment income would more than make up the difference."