Panel Weighs Reforms for Social Security
A White House commission on Social Security weighed reform options amid growing concern that the government’s return to budget deficits could hamper efforts to stave off a looming crisis for the retirement system.
The bipartisan panel was asked by President Bush to recommend ways to overhaul the retirement system and set up private accounts through which workers could invest part of their Social Security taxes in stocks and bonds.
Labor unions and other groups fiercely oppose the plan, warning that it would result in big cuts in benefits.
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