Some Facts Behind the Bush Push to Privatize Social Security

From the indispensible Facing South, e-mailed updates from the "progressive Southern news report":

Percentage of current Social Security beneficiaries that reside in the South: 33

Of 9 states with the highest percentage of children receiving Social Security benefits, number in the South: 8

Of 11 states with highest percent of elderly poor, number in the South: 8

Year that George W. Bush predicted Social Security would "go broke" when running for Congress in Texas in 1978: 1988

Amount per dollar that goes towards administrative costs under current Social Security system, in cents: 1

Amount per dollar that President Bush says would go towards these costs under his proposal: 5

Average amount that has gone towards administrative costs in other countries that have privatized Social Security: 15

Amount that finance industry stands to gain from privatized retirement accounts, in billions: $940