Bush Defends Social Security Overhaul

WASHINGTON -- President Bush appealed to members of Congress to make suggestions of their own for changing Social Security on Thursday, and said they need not fear political retribution, The Associated Press reported.

"It used to be in the past people would step up and say, ‘Well, here's an interesting idea,' " Bush said at a news conference at the White House. "Then they would take that idea and clobber the person politically." The president, who has repeatedly called for bipartisanship on the volatile issue, said he won't do that.

"What I'm saying to members of Congress is that, `We have a problem, come together and let's fix it, and bring your ideas forward, and I'm willing to discuss them with you.' "

The president's proposal would allow workers under age 55 to divert a chunk of their Social Security taxes into voluntary, private stock and bond investment accounts. The administration has estimated that transition costs for the next 10 years would be $754 billion.

-- NYSSCPA.org News Staff

Posted on 2/17/05