25 September 2007
The Bush administration is trying to get support in Congress for restructuring Social Security. In 2004 attempts to privatize the program fell thru and it was dropped before coming to a vote in Congress. Bush continues to say that program will require either tax increases or cuts in benefits to remain in its current form.
Treasury Secretary Henry M. Paulson Jr. has been meeting with members of Congress from both parties in hopes of finding a way to put Social Security on a more secure footing. So far the discussions have found no solutions but members of Congress share the administration’s concern about severity of the problem. With the coming election and the unpopularity of Bush administration officials doesn’t have much hope of overhauling Social Security before the president’s term ends.
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