The Democrats, have resorted to a “rigged” Social Security calculator to low-ball the results of individual Social Security accounts under President Bush’s plan, and have spent $1 million to advertise this dishonesty. First appearing on Senate Minority Leader Harry Reid’s Senate Web site, and later on the sites of other senators and private organizations also determined to mislead and frighten Americans, the mis-calculator is termed the “Social Insecurity” calculator. What appears to be “Socially Insecure” are the Left-wing demagogues both inside and outside the Democratic Party. Once champions of reforming (read “saving”) Social Security, now that Republicans are actually trying to fix it, they can’t change horses fast enough.
The mis-calculator assumes that stocks will produce average returns of a mere three percent above inflation. Historically, stocks produce closer to seven percent. There are other problems with the mis-calculator. It is, in fact, based on a number of false assumptions and deceptive comparisons. The ads being run in support of the faulty figure-outer are hardly more reliable.
FactCheck.org has the details.