« Improvements for Health Care Quality | Main | Fair Tax Gets the Ax »
October 10, 2005
The Future of Social Security Reform
In a wide-ranging policy address, President George W. Bush had the following to say about Social Security reform:
"As you know, I’ve advocated the need for people to come together to address the Social Security issue. It’s an issue that’s not going to go away. And I’ll continue to talk about it. There seems to be a diminished appetite in the short-term, but I’m going to remind people that there is a long-term issue that we must solve, not only for the sake of the budget, but, more importantly, for the sake of younger workers who are going to either have to pay a ton of money in order to justify current benefits, or to take a look at the underlying causes of the growth of benefits and do something about it, show some political courage."
Some reporters wasted no time interpreting this as a Bush retreat from reform. Nothing could be further from the truth.
What is true is that Grow Accounts are increasingly being seen as the only way to achieve some form of Social Security reform.
Grow Accounts do not fix Social Security as they don't address solvency. But they may be necessary as a first step down the road to reform.
Posted by at October 10, 2005 09:58 AM