The editorial written by The Daily Collegian staff ("Social Security issues will not be solved by individual investments," Feb. 7) is rife with factual errors and omissions.

In 1988, social security was predicted to run out of money, according to the elder Bush, by the year 1998.

The fact is that Social Security is currently our country's most fiscally healthy social program, yet the Bush administration is hell-bent on destroying Social Security as we know it.

Benefit cuts will run across the board to fund the change over to privatization.

Worse still, the administration has admitted that their plan will not push the expiration date on Social Security any further into the future.

The most egregious error made was in the comparison of Clinton's plan to Bush's plan.

Clinton proposed to use the budget surplus to fund Social Security until 2055.

Bush's plan involves borrowing $2 trillion to be paid directly to mutual fund corporations, in order to privatize Social Security accounts. Every year the American taxpayer has to pay interest on this heavy borrowing -- money that is given to foreign bankers.

Thus we see the true aim of this destructive bill, to reward corporations, and to run up the deficit, in order to cut domestic programs.