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>> Bush's promise to not cut benefits for those over 55 was strictly a political move, and has no foundation in common sense. <<

True. There's an entire industry, I think, that specializes in stirring up the FUD (Fear, Uncertainty and Doubt) among seniors that their monthly check is in peril.

It's pure politics, then, that results in pretty much all serious proposals "grandfathering" (no pun intended) those already collecting or close to doing so. In some ways it makes sense -- those who are still far from the "finish line" have much more time to come up with other options for retirement savings.

To some degree, though, the politics of Social Security are inevitably intergenerational. And when it looks like any changes will only impact younger folks, the intergenerational conflict is only increased.

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