joyfulgirl
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In response to a question from a woman in an audience in Tampa, Florida on February 4, our President offered the following explanation of his social security plan:
"Q: How is the new plan going to fix [the] problem? "
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 .... 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.)
The above quote comes directly from White House transcripts.
http://www.whitehouse.gov/news/releases/2005/02/20050204-13.html
"Q: How is the new plan going to fix [the] problem? "
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 .... 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.)
The above quote comes directly from White House transcripts.
http://www.whitehouse.gov/news/releases/2005/02/20050204-13.html