Bush Says Little About Social Security in Speech
While some recent reports have indicated that Social Security reform could be a possibility in 2007, the president barely mentioned the subject in his Jan. 23 State of the Union speech. Social Security was thought to be a dead issue until at least the next presidential administration after President Bush's unsuccessful attempt in 2005 to convince the GOP-controlled Congress to allow individuals to divert a portion of their Social Security taxes to personal investment accounts. After the Democrats won control of the House and Senate in November, though, the White House signaled that it may seek a deal on Social Security and that it could be open to proposals that include tax increases, something that Bush had ruled out during his first six years in office. Bush's State of the Union address, however, devoted just seven sentences to entitlement reform. "And, finally, to keep this economy strong we must take on the challenge of entitlements," Bush said. "Social Security and Medicare and Medicaid are commitments of conscience, and so it is our duty to keep them permanently sound. Yet, we're failing in that duty. And this failure will one day leave our children with three bad options: huge tax increases, huge deficits, or huge and immediate cuts in benefits. Everyone in this chamber knows this to be true - yet somehow we have not found it in ourselves to act. So let us work together and do it now. With enough good sense and goodwill, you and I can fix Medicare and Medicaid - and save Social Security." Coalition to Preserve Retirement Security officials have expressed concern that some lawmakers could support mandatory coverage of all newly-hired state and local workers as part of a reform package. As a result, the coalition is planning efforts to educate legislators about the negative effects of mandatory coverage.
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