WASHINGTON (Reuters) - President George W. Bush on Monday put Social Security reform on his list of 'big items' to deal with in the final two years of his presidency, possibly including indexing benefits for wealthier Americans.Excuse me, but shouldn't the rich get less from social security, not more? Especially since they didn't give more to the system in the first place?! What kind of bizzaro economics -- oh, never mind.
Interviewed on CNBC television, Bush said: 'I want to deal with the unfunded liabilities inherent in Social Security and Medicare.'
'I believe we can do that and at the same time assure those who are on Social Security they have nothing to worry about and those who are going to pay into Social Security that you don't pay into a bankrupt system,' he added.
Bush said 'my idea' is that Americans at lower income levels would see benefit payments continue on the current basis, but 'if you're a wealthier citizen, your benefits increase at the cost of living...so everybody's benefits go up but some go up faster than others.'
Tuesday, October 24, 2006
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