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Wednesday, March 02, 2005
Opposition to Social Security Reform Pays Off
It appears as though all of this talk about a Social Security overhaul is not working in the President's favor. The Washington Post reports today, "President Bush's bid to restructure Social Security may have to wait until next year and might not involve the individual accounts the White House has been pushing hard." Senate Majority Leader Bill Frist (R-TN) expressed these sentiments yesterday, and they are a blow to the administration's obvious efforts over the last few months to market their plans for Social Security privatization.
Many GOP Congressman have been out in the field pushing SS overhaul over the past few weeks, and many are now wary about forging ahead with a politically risky plan that doesn't have a good deal of demonstrated public support. So, it appears that Social Security reform may be put on the back burner for a while. This is due to both the fact that many Democrats have been voicing strong opposition to the private accounts supported by the administration, as well as because Republican lawmakers are extremely divided among themselves as to how to proceed with an overhaul, and whether or not our economy could sustain borrowing trillions of dollars to finance it. To read more about the current hurdles facing a Social Security overhaul, click here.
Posted by Becky Lewis
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