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On February 2, 2005, Bush made Social Security a prominent theme of his State of the Union Address. In this speech, which sparked the debate, it was Plan II of CSSS's report that Bush outlined as the starting point for changes in Social Security. He outlined, in general terms, a proposal based on partial privatization.
The economic policy and legacy of the George W. Bush administration was characterized by significant income tax cuts in 2001 and 2003, the implementation of Medicare Part D in 2003, increased military spending for two wars, a housing bubble that contributed to the subprime mortgage crisis of 2007–2008, and the Great Recession that followed.
President George W. Bush discussing Social Security in 2005. After winning re-election in 2004, Bush made the partial privatization of Social Security his top domestic priority. [55] He proposed restructuring the program so that citizens could invest some of the money they paid in payroll taxes, which fund the Social Security program. [56]
A proposal to privatize Social Security has been revived by former Vice President Mike Pence, who told a group in Washington, D.C., last week that he wants to reform the retirement program by...
“Before Social Security, most people’s retirement plan was death,” economist Kathryn Edwards told Vox last month when talking about why older Americans are working longer. “Dying on the ...
A major concern for many voters in the 2024 U.S. Presidential election was the state of Social Security. Seniors are worried that Social Security isn't doing enough to help them keep up with ...