No Time to Govern

Summary


President George W. Bush says one of his primary second-term goals is to reform Social Security. The sooner the better: The program will start going billions of dollars into the hole by 2018 if something isn't done. Remember, baby-boomers start retiring in about five years.

To keep Social Security solvent, the choices are painful - raise taxes 50 percent, cut benefits 30 percent or modernize the system via innovative reforms that include personal accounts.

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Extract


No Time to Govern

This could be done by allowing younger workers to invest a part of their payroll withholdi...

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