Here's a snippet of the president answering questions on Social Security
(from http://www.whitehouse.gov/news/releases/2005/02/20050204-13.html):
THE PRESIDENT: Because the -- all which is on the table
begins to address the big cost drivers. For example, how
benefits are calculate, for example, is on the table;
whether or not benefits rise based upon wage increases or
price increases. There's a series of parts of the formula
that are being considered. And when you couple that, those
different cost drivers, affecting those -- changing those
with personal accounts, the idea is to get what has been
promised more likely to be -- or closer delivered to what
has been promised.
Does that make any sense to you? It's kind of muddled. Look,
there's a series of things that cause the -- like, for
example, benefits are calculated based upon the increase of
wages, as opposed to the increase of prices. Some have
suggested that we calculate -- the benefits will rise based
upon inflation, as opposed to wage increases. There is a
reform that would help solve the red if that were put into
effect. In other words, how fast benefits grow, how fast the
promised benefits grow, if those -- if that growth is
affected, it will help on the red.
Okay, better? I'll keep working on it. (Laughter.)
Q: How do you like these hard questions?
THE PRESIDENT: You know. You watch my press conferences?
(Laughter.)
Please don't encourage him. (Laughter.)
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I swear, if it wasn't so sad, I'd laugh.
Dave
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