How the President’s Plan Benefits Younger Workers

From The Heritage Foundation:

Last Thursday night, President George W. Bush finally presented his full Social Security plan. The President outlined a new method for calculating benefits that will improve the Social Security system’s solvency. Many critics have been quick to focus on the pain from necessary benefit adjustments that lead to solvency. But like taking a sip of lemonade before you’ve had a chance to stir in the sugar, critics’ puckered responses to the President’s plan leave out the sweetener: personal retirement accounts (PRAs). Add personal accounts into the mix, and younger workers have the chance to enjoy more comfortable retirements than under the current system.