You know, all this detail and nuance regarding Social Security can be very confusing. It is sometimes hard to accurately describe what it is we are talking about. We may get muddled in our meaning, misunderstand difficult economic concepts, or just in general not know what the hell we're talking about.
I know who could sort these things out for us! Why, President George W. Bush can surely break this complicated matter down for the benefit of the American people:
Quote:
Because the -- all which is on the table begins to address the big cost drivers. For example, how benefits are calculate, for example, is on the table; whether or not benefits rise based upon wage increases or price increases. There's a series of parts of the formula that are being considered. And when you couple that, those different cost drivers, affecting those -- changing those with personal accounts, the idea is to get what has been promised more likely to be -- or closer delivered to what has been promised.
Does that make any sense to you? It's kind of muddled. Look, there's a series of things that cause the -- like, for example, benefits are calculated based upon the increase of wages, as opposed to the increase of prices. Some have suggested that we calculate -- the benefits will rise based upon inflation, as opposed to wage increases. There is a reform that would help solve the red if that were put into effect. In other words, how fast benefits grow, how fast the promised benefits grow, if those -- if that growth is affected, it will help on the red.
Okay, better? I'll keep working on it.
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Wow. Just - goddam. Don't be too grandiloquent there, Bush. I'm not sure I can handle words with up to three - count 'em, three - syllables. Now, I actually think I know what he's talking about, which is adjusting benefits according to inflation rather than wage-indexing, but I somehow doubt he does.
Here's the whole thing.