RE: Archer/Shaw Social Security Guarantee Plan

[Ruth Reilly <achren2@aol.com>]

I have been following this discussion with great interest, but I 
am puzzled.  Can someone from Rep. Bill Archer's office clear up 
my confusion, please?  

>From what Mr. Archer said on C-Span last night I
did not understand what his legislative plan is, or when he plans
to hold committee hearings on it.  Does he have the text of a
bill yet, and if so, how can I get a copy?  All this discussion
is very nice, but when the Chairman of the House Ways and Means
Committee or the Majority Leader of the Senate decide to do 
something, I feel every American should pay strict attention.

Is the legislative proposal identical to "The Social Security
Guarantee Plan Saving and Strengthening Social Security Without
Raising Taxes or Cutting Benefits April 28, 1999".


If so, I have some questions:
Does Mr. Archer propose that FICA payments should accrue no
interest from US bonds?  And from whom will we borrow money, if
not from U.S. workers?

What actually are the "Guarantees" of the "Current Social Security
System"?
  
If there is no privatization, and there are no surpluses, what
happens? [For most of my lifetime there have been only deficits.]

What happens when  the stock market crashes?

How will low-wage/low-educational level workers be educated to
use this system.  [If I can't understand it, how can many of my
former students in classes with average i.q.s of 85 who quit 
school at 16 to help support their families?]

These are just some of my failures to understand Mr. Archer's
plan.  Please help me!