Word: bankrupting
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IMPACT: Depends on the stock market. The $1 trillion price tag means the program may go bankrupt 10 years earlier; to cover the cost, Bush will have to cut benefits. If the market continues its historical rate of return of 7% a year (or even if it gains a more modest 5% a year), such cuts would be painless because the private-account nest egg for most future beneficiaries would more than equal the benefits they would receive under the current system. But there's no benefit floor to protect losers...
...IMPACT: More children would be insured through the CHIP program, but only if states improve their record of implementing the plan. The prescription benefit would reach all seniors, but nothing is done to reform Medicare and trim its long-term costs, which could eventually bankrupt the program. SOCIAL SECURITY GEORGE W. BUSH AL GORE...
...IMPACT: Depends on the stock market. The $1 trillion price tag means the program may go bankrupt 10 years earlier; to cover the cost, Bush will have to cut benefits. If the market continues its historical rate of return of 7 percent a year (or even if it gains a more modest 5 percent a year), such cuts would be painless because the private-account nest egg for most future beneficiaries would more than equal the benefits they would receive under the current system. But there's no benefit floor to protect losers...
...than in any month since last December. The NASDAQ plummeted more than 700 points, and websites from MTV.com to OfficeMax slashed their staffs. Even mighty Walmart.com shut its virtual doors to remodel for the holiday rush. The final irony, however, may have come when Dotcomfailures.com a website devoted to bankrupt Internet companies, went out of business. Now that's a downturn...
...tell the difference between Al ("We're for the people") Gore and George W. ("I trust the people") Bush? Take a look at what each candidate says at this week's debate about how to "save" Social Security. You have probably heard that the popular program will go bankrupt soon, but that's not exactly true. The real problem is that as the baby boomers retire and then live longer than previous cohorts, aid to the elderly will take up more of the budget, leaving little room for other priorities like health care or education. The solution we choose will...