Author Topic: Bush on Social Security (Read 352 times)

Ant · « **on:** February 07, 2005, 05:48:09 PM »

According to President Bush Social Security is in crisis and we need to privatize the system to avoid the crisis. Bush has just begun bouncing around the country giving speeches on this issue, and taking questions.... Today Bush did a Q & A session in Tampa, Fl. After getting lobbed 30 minutes of softball question someone caught him off guard with a zinger! What exactly was the difficult question Bush had a hard time answering? See below:

Question: How is the new plan is going to fix the problem (with social security)?

THE PRESIDENT: Because the -- all which is on the table begins to address the big cost drivers. For example, how benefits are calculate, for example, is on the table; whether or not benefits rise based upon wage increases or price increases. There's a series of parts of the formula that are being considered. And when you couple that, those different cost drivers, affecting those -- changing those with personal accounts, the idea is to get what has been promised more likely to be -- or closer delivered to what has been promised.

Does that make any sense to you? It's kind of muddled. Look, there's a series of things that cause the -- like, for example, benefits are calculated based upon the increase of wages, as opposed to the increase of prices. Some have suggested that we calculate -- the benefits will rise based upon inflation, as opposed to wage increases. There is a reform that would help solve the red if that were put into effect. In other words, how fast benefits grow, how fast the promised benefits grow, if those -- if that growth is affected, it will help on the red.

Okay, better? I'll keep working on it.

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Republicans have a lot to be proud of with Bush as President.