Monday, May 09, 2005

The Final Insult - New York Times

Can he not do math as a Nobel Prize winner in Economics?

$1000 per year for 40 years at 6.5% would grow to $175,632.

Then in retirement, one depletes the account each year while it earns 4% over 15 years. The yearly payment? $11,746. And if this retiree dies prio to depletion, there would be money left over for his heirs.

Krugman should stay away from providing figures as the feed right into the rationale for private savings accounts and stick to the assumptions that caste Bush's proposals as unnecessary.

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