Bush: Will Reform Social Security System Now

[Guest guest]

Bush Says Will Reform Social Security System Now. Reform = Dismantle

for the Benefit of the Rich 11/5

 

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Bush: Will Reform Social Security System Now

 

Thu Nov 4,12:17 PM ET

 

WASHINGTON (Reuters) - President Bush (news - web sites) said on

Thursday he planned to start work immediately on reforming America's

ailing Social Security (news - web sites) retirement system and

predicted a long slog ahead.

 

 

" We will start on Social Security now. We will start bringing

together those in Congress who agree with my assessment that we need

to work together, " he said in his first news conference after the

bitterly contested presidential election.

 

Bush said reforming Social Security would be a priority during his

second term and he predicted it would be very tough and costly.

 

" But the cost of doing nothing ... is much greater than the cost of

reforming the system today, " he added.

 

Bush said he had talked to members of his staff on Thursday and they

were planning strategy on how to " move agendas forward " and to do this

effectively.

 

The future of Social Security and the financial strains it faces when

77 million baby boomers begin to retire was a major issue in this

year's presidential elections.

 

Bush had proposed setting aside a portion of Social Security taxes to

create individual accounts that workers could invest in stocks and bonds.

 

Opponents to private accounts say the move will increase the financial

strains on Social Security and argue that recent stock market scandals

underscore the need to protect the basic benefit of Social Security.