2005-04-10
SOCIAL SECURITY
George W. Bush explains his reform proposals
George W. Bush explains his reform proposals
"See... look... Cost Drivers help on the Red. Make sense?
"Because the - all which is on the table begins to address the big cost drivers. For example, how benefits are calculate, for example, is on the table; whether or not benefits rise based upon wage increases or priceincreases...
"There's a series of parts of the formula that are being considered. And when you couple that, those different cost drivers, affecting those - changing those with Personal Accounts the idea is to get what has been promised more likely to be - or closer delivered to what has been promised.
"Does that make any sense to you? It's kind of muddled.
"Look, there's a series of things that cause the - like, for example, benefits are calculated based upon the increase of wages, as opposed to the increase of prices. Some have suggested that we calculate - the benefits will rise based upon inflation, as opposed to wage increases...
"There is a reform that would help solve the Red if that were put into effect. In other words, how fast benefits grow, how fast the promised benefits grow, if those - if that growth is affected... it will help on the red"
QUOTED IN: Doonesbury
¶ 14:58
