Bush's Social Security Example

"Members of Congress could take some lessons from Chile, particularly when it comes to how to run our pension plans. Our Social Security system needs to be modernized, Mr. President, and I look forward to getting some suggestions as to how to do so, since you have done so, so well."
- President Bush speaking to the Chilean president, 4/16/01

VERSUS

"Chile's Retirees Find Shortfall in Private Plan...Many middle-class workers who contributed regularly are finding that their private accounts - burdened with hidden fees that may have soaked up as much as a third of their original investment - are failing to deliver as much in benefits as they would have received if they had stayed in the old system."
- NY Times headline, 1/27/05