Strategy Questions Loom for Bush in Retirement Push -- His Hand Are Tied!!

Like any other developed countries. the pension fund system is very ill!! The Isue become worst is that the people who propelled the economy is reaching the retirement age. The 1st batch of Baby Bloomer are suppose to retire on Jan 1, 2008., then follows by the declining, contributor's of these pension fund from the X generation & the Web generation. The situation would be worst then what people espected

The issue of Social Security for this Nation is even more serious then any other country. As the system have been changing from time to time over those years of "Revisions". This have according to

Lao Tze said: Governing A Big Nation; Is Like Frying A Small Fish!!

Then with the Congress, House of Senate As well as 2 opposing Political parties holding on their own Political Interests & views, these made the President of this country almost Paralysis on his initiatives to put solutions forward.

Well it is the time to "Do More & Talk Less", as 2008 is just at the corner. Put all personal or political agenda aside & get the Social Security & Income Tax issue resolved before it is too late!!

Strategy Questions Loom for Bush in Retirement Push
1 hour, 16 minutes ago

ALBUQUERQUE, N.M. (Reuters) - Seven weeks after launching a drive to remake Social Security (news - web sites), President Bush (news - web sites) has visited 18 states and traveled thousands of miles but has had little success in getting the public to warm to his idea of private accounts or in enticing Democrats to bring forth ideas.

Experts say Bush is getting closer to some crucial decisions on how far he wants to go to broker a compromise he might be able call a victory in his effort to change the national retirement system.

One dilemma for him is that some ideas that might appeal to Democrats could risk infuriating his conservative Republican base.

In Albuquerque, New Mexico, on the final leg of a two-day western tour, Bush again made a plea for both parties to come to the table.

"In order to solve this problem, it's not going to be a Republican idea or a Democrat idea," Bush said. "It's going to be American idea brought forth by both either Republicans or Democrats or both."

Traveling with Bush in New Mexico, Arizona and Colorado was Arizona Sen. John McCain (news, bio, voting record), a one-time Republican rival to Bush, who played on his reputation for bipartisan appeal as he called Social Security an issue that "transcends party identification."

So far, Democrats are focusing their energies on fighting the centerpiece of Bush's plan -- allowing workers to shift part of their payroll taxes into personal investment accounts. They say such accounts would drive up the federal debt and undermine the traditional Social Security program.

Bush first rolled out some details of his proposal in his Feb. 2 State of the Union address. Since then, public opinion polls show no major movement in support of his plan.

'ADD-ON ACCOUNTS'

One way some analysts believe Bush could win over Democrats would be to embrace so-called "add-on" accounts funded outside of the Social Security system. Many Democrats favor such accounts. The powerful senior citizen lobby, the AARP, has no objections to them.

"The president has sounded a bit more conciliatory," said political analyst Bruce Buchanan of the University of Texas. But he said Bush may need to make a much more dramatic shift in his approach to lay the groundwork for a compromise.

Bush has acknowledged private accounts alone won't permanently fix what he warns are serious financial strains facing Social Security as the huge baby boom generation prepares to retire.

He has floated ways to rein in its costs, such as tying the growth in future benefits to inflation rather than faster-growing wages, but has not offered specifics.

To reach out to Democrats, he has also signaled a willingness to discuss such ideas raising the $90,000 cap on income subject to the Social Security payroll tax. He has been careful not to rule out "add-on" accounts, though he and his aides call his own approach of accounts funded through Social Security important to any plan.

Peter Ferrara, head of the Institute for Policy Innovation, a conservative think tank, called overtures like the signal of openness to a rise in the payroll tax cap -- which would effectively boost taxes on the wealthy -- a sellout. He vowed to lobby Republican lawmakers to defeat them.

This week marks a crucial time for Bush's Social Security effort. Lawmakers spending their Easter break meeting with constituents to gauge their views on Social Security. During a recess in February, many Republicans were shocked to be hit with a barrage of concerns from constituents.

Bush has a little over a month left in the 60-day 60-city blitz in which he and his aides are fanning out around the country to try to draw attention to Social Security's financial problems. The administration calls this the "early phase" of the Social Security effort.

At a Bakersfield, California, forum on Monday, Vice President Dick Cheney (news - web sites) claimed some progress on that.

"One of things that I think has been heartwarming is the extent to which I believe the American people now -- the vast majority as we look at the polls -- understand we do have a problem," Cheney said. "This is not something somebody cooked up."

But Susan MacManus, political scientist at the University of South Florida, said that as his campaign wraps up, the pressure will grow for Bush himself to put out more specifics.

"Then it will be time to pass the ball back to Congress," she said.



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