scroll to top
Stuck on your essay?
Get ideas from this essay and see how your work stacks up
Word Count: 811
In his State of the Union Address President Bush said that the Social Security system is headed for bankruptcy He also made his proposal on private Social Security accounts What the president proposed sound like a good idea but in fact they violate the rules and are not following the current facts The president said In addition youll be able to pass along the money that accumulates in your personal account if you wish to your children and -- or grandchildren And best of all the money in the account is yours and the government can never take it away However this is not true As described by the Senior Administration Official the owners of personal accounts wouldnt be able to touch the money while they are working not even to borrow The money would remain in the hands of the federal governmentThey would be permitted to leave those leftover funds in the account to continue to appreciate they could withdraw those amounts as lump sums to deal with a pressing financial needBut the main restriction again to repeat is that people would not be permitted to withdraw money from the accounts to such a degree that by doing so they would spend themselves below the poverty line The president also said Heres why the personal accounts are a better deal Your money will grow over time at a greater rate than anything the current system can deliver -- and your account will provide money for retirement over and above the check you will receive from Social Security In truth putting your money into the current Social Security program is a riskier proposition than investing in the private equity markets because Social Security is heading toward bankruptcy which is what the president said and cannot pay promised benefits Without action to fix Social Security todays workers can expect a certain amount of benefit cut when they retire -- a bad deal indeed 85 of our
@Kibin is a lifesaver for my essay right now!!
- Sandra Slivka, student @ UC Berkeley
Wow, this is the best essay help I've ever received!
- Camvu Pham, student @ U of M
If I'd known about @Kibin in college, I would have gotten much more sleep
- Jen Soust, alumni @ UCLA