Free Republic

President Bush yesterday said his plan to restructure Social Security would improve the program's long-term stability without shrinking the retirement income of older Americans. But a new Washington Post-ABC News survey found a clear majority of the public does not believe that. The poll found that 56 percent said the president's plan to couple new personal retirement accounts with a reduction in guaranteed benefits for most Americans would cut the overall retirement income of seniors. About a third -- 32 percent -- said Bush's proposals would result in future retirees receiving more money. More troubling for a president who took...

WASHINGTON - The Bush administration is focusing on a Social Security (news - web sites) proposal that would allow younger workers to invest up to 4 percent of their payroll taxes in private accounts, with contributions limited to about $1,000 to $1,300 a year, an official said Tuesday. AP Photo   A final plan is expected to be unveiled in late February. The official, who spoke on condition of anonymity, said the size of the private accounts could be similar to a proposal by Sen. Lindsey Graham (news, bio, voting record), R-S.C., and a plan from President Bush (news -...