Paulson: Social Security reform hopes slim
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U.S. Treasury Secretary Henry Paulson conceded on Friday that chances were slim for agreeing on a way to reform Social Security financing but said he would keep trying to find bipartisan support for it.
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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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The parties have not been this far apart ideologically on Capitol Hill for decades, some analysts say, which could make an overhaul of Social Security hard to achieve.
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The Bush administration stepped up its attempt to build support for restructuring Social Security yesterday, saying in a Treasury Department report what it has said elsewhere: that the popular program will require either tax increases or cuts in benefits to remain viable in its current form.
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The creation of personal investment  accounts advocated by President Bush would not be a cure-all  for the problems facing Social Security, which needs other  reforms as well, the U.S. comptroller general said on Monday.
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U.S. Treasury Secretary John Snow on Monday agreed with recent calls to reform Social Security and Medicare but offered no new proposals to keep the income and heath insurance programs for the elderly solvent.
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Looking at alternate plans for Social Security
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Congress should consider more sweeping changes in Social Security than President Bush's call for personal accounts, a prominent House committee chairman said Tuesday, possibly including different benefits for men and women.
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WASHINGTON - An overhaul of Social Security to allow personal investment accounts won&#39;t fix the looming financial shortfall by itself, the White House said Wednesday.
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House Financial Services Committee   Chairman Michael Oxley on Wednesday urged U.S. Treasury   Secretary Henry Paulson to push harder for a Senate compromise   on legislation to reform government-sponsored housing   enterprises, saying time was quickly running out.
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The U.S. economy is slowing to a steady growth rate that provides a basis for dealing with necessary changes to retirement and health care programs, Treasury Secretary Henry Paulson said on Tuesday.
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Politicians are starting to weigh changes to the federal retirement program. Reforms carry risk and can&#39;t be separated from nation&#39;s overall fiscal health.
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Businesses that sponsor pension plans are applauding the Bush administration's call for a broad overhaul of the nation's troubled retirement benefits system. But on specifics, companies are wary.
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The Bush administration is focusing on a Social Security proposal that would allow younger workers to invest nearly two-thirds of their payroll taxes in private accounts, with contributions limited to about &#36;1,000 to &#36;1,300 a year, an administration official said Tuesday.
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The challenge awaiting President Bush is to offer a plan for restoring the Social Security system to financial balance.
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The Fed chief and Treasury Secretary Paulson note tightening credit markets but expect a return to normal.
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Federal Reserve Chairman Alan Greenspan said Friday that the country will face "abrupt and painful" choices if Congress does not move quickly to trim the Social Security and Medicare benefits that have been promised to the baby boom generation.