LYCOS RETRIEVER 
Social Security Administration: System
built 624 days ago
* Bush's plan has a negative effect on the short term finances of the Social Security program and a positive effect on the long term finances of the Social Security System. Gebhardtsbauer accounted for the negative short term effect and did not mention the positive long term effect. [224][225][226]
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"Social Security is supposed to protect seniors in need -- but with five million seniors below the poverty line, it's clear the system is failing them," said Shannon Benton, executive director of The Senior Citizens League. "An annual increase of two percent just isn't enough to shield seniors from costs that are rising by double digits."
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If this practice becomes widespread, the fairness of the Social Security system will be compromised, and the costs could run into hundreds of millions of dollars. The budget proposes to close this loophole for future retirees.
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* Bush's proposal would have a negative effect on the short term finances of the Social Security system, because the program receives 16% less in tax revenues from the people who opt for private accounts. [179]
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