Wednesday, February 09, 2005

Democratic Plans for Social Security

Congressional Democrats are offering alternatives to President Bush's plans to fix Social Security.

Represenatives Dennis Moore (D-KS) and Rush Holt (D-NJ) have each proposed "lock box" plans.

Sen John D. Rockerfeller IV (D-WV) wants to keep Social Security solvent by simply not extending the President's tax cuts.

Both address the issue of Congress borrowing from the Social Security trust fund to make ends meet on regular federal spending. The President is looking at four plans to cut benefits or extend the retirement age. He's also backing a plan to let people put some of their Social Security withholding into private accounts. That plan would have no effect on fixing the Social Security shortfall, though. (WashTimes)

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