Originally published June 25 2005
Bush campaigns for social security plans
by Mike Adams, the Health Ranger, NaturalNews Editor
The New York Times follows President Bush as he works hard to sell his private accounts plan for Social Security while traveling around the country.
President Bush campaigned for his Social Security proposals in central Pennsylvania today, where he also tried to bolster the re-election chances of Senator Rick Santorum.
Mr. Bush once again promoted his idea of offering private accounts within the Social Security system for younger workers who wanted to choose that savings route.
"If you think you can do better in solving this problem, I don't care whether you're a Republican, or a Democrat, put your ideas on the table.
Public opinion surveys have shown relatively modest support for the administration's proposed private accounts within Social Security.
And some lawmakers in both parties have voiced strong reservations about private accounts, which they say could undermine the foundations of Social Security and would not really address its long-range problems.
Social Security now takes in considerably more money than it pays out in benefits.
But as legions of baby boomers retire and begin to collect benefits, instead of paying for them, the retirement system will move toward a deficit.
Some actuaries have projected that there will be more money going out than coming in by 2017, although full benefits will be payable for some time because of the surplus being accumulated now.
Critics of Mr. Bush's proposals have said there are enough ways, and enough time, to fix the system without a drastic change like a shift to private accounts.
He did not point out those i.o.u.'s are Treasury securities backed by the full faith and credit of the United States, and that the government has never defaulted on its obligations.
The Republican senator is up for re-election next year, and some polls have projected a tough race, with a possible opponent being the Democratic state treasurer, Robert Casey.
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