President Bush said on Thursday he planned to start work immediately on reforming America's ailing Social Security retirement system and predicted a long slog ahead.
Bush said reforming Social Security would be a priority during his second term and he predicted it would be very tough and costly. "But the cost of doing nothing ... is much greater than the cost of reforming the system today," he added.
Bush had proposed setting aside a portion of Social Security taxes to create individual accounts that workers could invest in stocks and bonds.
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2 comments:
Personally all I can say is "Woohoo! and A.F.T.!"
When all that SS money hits the market, I wonder if this will artifically inflate the values of stocks and deflate bond rates.
You should read the subsequent post on SS for what's likely to happen with all that money chasing stocks.
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