WASHINGTON -- President Bush tried and failed to fix Social Security's long-term finances with his own party in control of Congress. His determination to keep trying, even as Democrats take over, is fueling speculation that he is ready to meet their price for coming to the bargaining table: dropping his goal of letting workers create private retirement accounts.
While Democrats don't take over the House and Senate until January, already some in both parties are reading tea leaves for signs of administration flexibility, including in recent remarks by Treasury Secretary Henry Paulson and White House Chief of Staff Josh Bolten.
For Mr. Bush, private accounts are a way of reducing Social Security's future obligations, and central to his concept of an "ownership society" in which Americans rely less on government.
Democrats, along with the seniors group AARP, oppose personal accounts because they would initially require heavy government borrowing, and could leave future retirees at risk of market downturns.
2006-11-25
17:32:35
·
9 answers
·
asked by
marnefirstinfantry
5