Noted Berkeley economist looks at Bush plan and comes up with the following:
If you are 45 and if Bush's plan were available today...
Follow George W. Bush's advice, divert $1,000 into your private account, invest it in TIPS, and at the 1.85% per year interest rate you will indeed by able to collect an extra amount worth $10.11 a month in today's dollars when you retire at 65...
But the clawback would reduce your normal Social Security benefit by $14.16 a month. You're $4.05 a month behind.
"Building a nest egg." Feh!
Your president only has your best interests at heart. But there's gotta be a better interest rate than that there's gotta be a better president than that.