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Economists Say Social Security 'Transition Costs' a Myth
CNSNews.comLink to more items from this source
Feb. 22, 2005
Excerpt: Transition costs, trumpeted by Democrats as a chief reason not to support President Bush's Social Security reforms, are a myth, according to several prominent economists, including the 2004 Nobel Prize winner. The trillion dollar totals that Democrats cite as 'transition costs' are actually the amount the government is borrowing to pay current Social Security benefits combined with the massive debt already owed to the so-called Social Security 'Trust Fund.'

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