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May 09, 2005 - Image 2

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Publication:
Michigan Daily Summer Weekly, 2005-05-09

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2 - The Michigan Daily - Monday, May 9, 2005
Poll: Students worry about HERE, KIfY-KITTY-KITTY
Social SecuriW, back accounts

4

By Justin Miller
Daily News Editor
The newest generation to pay into Social
Security is worried about the program's future
and is in favor of personal savings accounts,
according to the newest polling data of col-
lege students.
Harvard's Institute of Politics reported
that nearly 70 percent of students are some-
what or very concerned that Social Secu-
rity will not pay out benefits to them when
they retire. The new data comes during an
aggressive campaign by President Bush to
sell the public and Congress on his Social
Security reform plans.
"I'm not counting on it," LSA senior Erica
Chippi said of Social Security benefits. Chip-
pi said she does not expect Social Security
benefits to be part of her retirement.
However, not all students see insolvency as
the greatest danger to Social Security.
"The Bush agenda might be damaging to
it," medical student Derek Richardson said,
adding that the president's reform agenda will
probably not pass Congress.
Music senior Johnny Atorino said he was
too young to be affected by changes to Social

Security but was worried about the system's
solvency for older Americans.
"I think people should have the right to feel
when they're older they should be taken care
of," Atorino said.
Among those receiving benefits is Atori-
no's grandmother. He said that without her
Social Security check his father and uncle
would have to care for ,her more than they
do now.
"Of course they should take care of her
- and do - but monetarily they should get
some help," he said.
Showing slightly greater support than
the rest of the public, 52 percent of students
backed the idea of optional personal invest-
ment accounts created from payroll taxes.
Bush's proposal would allow these accounts
to be invested in government securities,
mutual funds or stock indexes.
"I think investment is a good idea. People
always need to think of that as soon as they
have money," Chippi said.
However, 38 percent of students said they
would rather risk a payout shortfall than
invest in an account.
Richardson said personal accounts may be

all right in the short-term, but, over time, they
would cause trouble.
"I think it will be problematic 10 or 20
years down the road. I don't think we'll have
enough money to pay for everybody," he
said.
Harvard's poll was taken before Bush pro-
posed a change to benefit indexing. His plan
would slow benefit growth for most retirees
and continue today's faster rate of growth for
Social Security's poorest recipients.
Bush said his plan would guarantee ben-
efits equal to or above those currently prom-
ised to retirees while saving more money for
Social Security.
"That surprises me that President Bush is
attempting to help the poor," Atorino said.
Atorino added that he thought the proposal
was acceptable if it changed the rate of growth
but did not cut benefits.
Richardson said he was against Bush's
indexing proposal.
"It defeats the purpose of Social Security,
which is to provide a safety net for everyone. I
don't think that's fair," Richardson said.
The margin of error in the poll was plus or
minus 2.8 percentage points.

4

SCAHS very useful," he said.
Sachs said the worst attitude for pov-
Continued from page 1 erty relief is pessimism. He said the
goals of the Millennium Project can be
political change along with the eco- accomplished at a moderate cost. He
nomic aid. stressed the economic impact of glo-
"Once you've got your country into balization on medical relief efforts.
the right political frame, aid can be "A great drug, which will save Afri-

cans from malaria, is a discovery of
Chinese scientists, and that's the world
promise that we have. (That's) a world
society that can share and do it peace- MIKE HULSEBUS/Daiy
fully," he said. Rachel Anger judges Tylona Buzz Light Blue, a Russian
Sachs is the son of Ted Sachs, a former Blue kitten at the 30th Annual All-breed Cat Show at
labor lawyer in the Detroit area and the the UM Sports Colliseum on Saturday, May 7, 2005.
man for whom the event was dedicated.
WRIFOR US' S
C RALL76-DAILY
The Michigan Daly ISSN 0745967) is published Monday through Friday during the fall and winter terms by
students at the University of Michigan. One copy is available free of charge to all readers. Additional copies
may be picked up at the Daily's office for $2. Subscriptions for fal term, starting in September, via U.S.
tmal are $110. Winter term (January through April) is $115, yearlong (September through April) is $195.
- - Universityaffilates are subject to a reduced subscription rate. On-campus subscriptions for fall term are $35.
Subscriptions must be prepaid. The Michigan Daily is a member of The Associated Press and The Associated
u AE of thewe , Collegiate Press. ADDRESS: The Michigan Daily, 420 Maynard St., Ann Arbor, Michigan 48109-1327. PHONE:
O734-76DAILY. ONLINE: www.michigandaily.com E-mail letters to the editor to tothedaiy@michigandaily.com.
ateB, DTRIkeAF tpaieWih, dtr!nCi

4

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NEWS
EDITORS: Justin Miller, Laura Van Hyfte
STAFF: Amber Colvin, Julia Herring, Genevieve Lan
OPINION
ASSOCIATE EDITOR: Emily Beam
STAFF: Whitney Dibo, Jesse Forester, Bryan Kelly,
COLUMNISTS: Mara Gay, Alexandra M. Jones, Jcs T
SPORTS
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PHOTO
ASSOCIATE EDITOR: Mike Huisebus
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GRAPHIC DESIGN STAFF: Matthew Daniels. Gervis M
ONLINE
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Jeremy Davidson, Managing Editor
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rl Stampfl
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vin Wright
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>r, Samantha Force, Abby Frackman, Andrew
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ille Vaughan, Doug Wernert
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