Speeches, Public Comments and Analyses

George W Bush, President
Answering question about Social Security
Tampa, Florida
February 4, 2005

Q: I don't really understand how is it the new plan is going to fix that problem?"

BUSH: "Because the - all which is on the table begins to address the big cost drivers. For example, how benefits are calculated, 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.

"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.

"Look, there's a series of things that cause the - like, for example, benefits are calculated based upon the increase of wages as opposed to the increase of prices. Some have suggested that we calculate that benefits will rise based upon inflation as opposed to wage increases. There's 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 that growth is affected, it will help on the red.

How can anyone argue with that? Heck, how can anyone even understand it?

Source: Tampa Tribune, February 5, 2005