BUSH: There is a problem for our youngsters. We'll honor our commitment to our seniors. But for our children, we need to have a different strategy. I believe that younger workers ought to be allowed to take some of their own money and put it in a personal savings account, because I understand that they need to get better rates of return than the rates of return being given in the current Social Security trust.
KERRY: You just heard the president say that young people ought to be able to take money out of Social Security and put it in their own accounts. Now, my fellow Americans, that's an invitation to disaster. The CBO said very clearly that if you were to adopt the president's plan, there would be a $2 trillion hole in Social Security, because today's workers pay in to the system for today's retirees. We're going to protect Social Security. I will not privatize it. I will not cut the benefits.
A: Every senior will still get their checks. There is a problem for our youngsters, a real problem. If we don't act today, the problem will be valued in the trillions. We need to think differently. We'll honor our commitment to our seniors. But for our children and our grandchildren, we need to have a different strategy. Recognizing that, I called together a group of our fellow citizens to study the issue. They came up with a variety of ideas for people to look at. Younger workers ought to be allowed to take some of their own money and put it in a personal savings account, because I understand that they need to get better rates of return than the rates of return being given in the current Social Security trust. The compounding rate of interest effect will make it more likely that the Social Security system is solvent for our children and our grandchildren.
BUSH: There is a problem for our youngsters. We'll honor our commitment to our seniors. But for our children, we need to have a different strategy. I believe that younger workers ought to be allowed to take some of their own money and put it in a personal savings account, because I understand that they need to get better rates of return than the rates of return being given in the current Social Security trust.
KERRY: You just heard the president say that young people ought to be able to take money out of Social Security and put it in their own accounts. Now, my fellow Americans, that's an invitation to disaster. The CBO said very clearly that if you were to adopt the president's plan, there would be a $2 trillion hole in Social Security, because today's workers pay in to the system for today's retirees. We're going to protect Social Security. I will not privatize it. I will not cut the benefits.
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| Other candidates on Social Security: | |||
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George W. Bush
Dick Cheney John Edwards John Kerry Third Party Candidates: Michael Baradnik Peter Camejo David Cobb Ralph Nader Michael Peroutka |
Democratic Primaries: Carol Moseley Braun Wesley Clark Howard Dean Dick Gephardt Bob Graham Dennis Kucinich Joe Lieberman Al Sharpton | ||
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