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 WASHINGTON (AP) - Someone born next year who goes on to earn what the government considers a high-wage income could see his Social Security check replaced by the personal investment account President Bush has proposed, a congressional study says.
Democrats said Wednesday that the study, which they commissioned from the nonpartisan Congressional Research Service, was troublesome because it illustrated how the accounts — invested in the stock market — might eventually eliminate Social Security's guaranteed checks.
"President Bush says his plan is best for future generations, but this analysis shows how they would be the biggest losers. Our kids and grandkids born now might not have any guaranteed Social Security benefit," said Rep. Charles B. Rangel, D-N.Y., who requested the study and has been a staunch opponent of the Bush proposal.
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