White House: Borrowing to revamp Social Security likely
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The White House conceded Monday it will likely have to borrow money to pay for the president&#39;s proposal to create private accounts for younger workers to revamp Social Security.
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The US president says he plans far-reaching reforms to the Social Security system which funds pensions.
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President Bush announced several steps to help Americans who have credit problems meet the rising cost of their housing loans.
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The personal investment accounts that are the centerpiece of the Bush administration's Social Security proposal would be modeled after a popular federal retirement savings plan that offers a mix of index funds with microscopic administrative fees.
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PRESIDENT BUSH used an economic summit in Washington last week to promote his plans to reform the crumbling Social Security system.
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President Bush is poised to pursue an aggressive &quot;ownership society&quot; agenda of Social Security privatization, new tax breaks for savings and investment and additional incentives
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The chairman of the House tax-writing committee said Sunday that President Bush's drive to overhaul Social Security should lead to consideration of a value added tax or other ways to fund the entitlement program.
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Facing record budget deficits, the Bush administration likely will turn to short-term government borrowing to help finance its plan to add personal retirement accounts to Social Security, officials said on Saturday.
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How Americans in different financial situations would fare under the rebate plan proposed by House leaders and the White House.
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Vice President Dick Cheney on Sunday  acknowledged trillions of dollars in future borrowing may be  needed to cover the cost of private retirement accounts under  President Bush's plan to retool the Social Security system.
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President Bush is planning to reform Social Securtiy
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The White House has written a memo  arguing that changing the Social Security system will require  reducing benefits as well as setting up private investment  accounts, The Wall Street Journal reported on Thursday.
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President Bush will use a two-day  economic conference this week to try to build support for a  planned overhaul of Social Security his critics say could put  the retirement system at risk.
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President Bush, who has promised that his plan to allow private investment accounts in Social Security would give workers a &quot;better rate of
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Legislation that would encourage federal retirees to come back to work in the government on a temporary basis was introduced in the House yesterday, giving the Bush administration a chance to push for one of its management priorities this year.
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If President Bush wants to push his plan to overhaul Social Security through Congress during his second term, he will probably have to do something he rarely did during his first term: get his hands dirty.
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Third in a series of occasional articles examining the economic and political stakes involved in the Bush administration's proposed overhaul of Social Security.