Bush: Social Security Plan Has Safeguards

[maddezmom]

WASHINGTON - President Bush (news - web sites) said Thursday the Social Security (news - web sites) investment accounts he is proposing would have rules to prevent workers from gambling away their retirement money. He appealed for congressional action to shore up the system and said lawmakers supporting him wouldn't be risking their seats.


"This is an issue on which I campaigned and I'm still standing," Bush said at an economic conference promoting his domestic proposals, including Social Security, his leading legislative issue for next year.


"The crisis is now," he said, pressing for an overhaul of the system, which will be under increasing financial pressure as the baby boom generation retires and claims benefits.


He is proposing that workers be allowed to take part of the Social Security taxes they now pay into the system and instead invest in private accounts. But he said there would be restrictions on the money.

more: http://story.news.yahoo.com/news?tmpl=story&cid=544&ncid=703&e=1&u=/ap/20041217/ap_on_go_pr_wh/bush_social_security

Pls alert if it's a dupe.... :) Been a bit busy learning the ropes.