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CAPITOL HILL (AP) - Congressional reaction to the latest financial report from Social Security's trustees is breaking predictably along party lines. The trustees say Social Security will run out of money by 2041. That's a year earlier than previously expected and congressional Republicans say that shows there is no time to waste to fix the situation. Congressional Democrats see it quite differently. Senate Minority Leader Harry Reid says it shows Social Security will remain on solid ground "for decades." He says the only place a crisis exists is in the minds of Republicans. Treasury Secretary John Snow, who is one...

THE PRESIDENT: Good morning. Social Security is one of the great moral achievements of American government. For almost 70 years, it has kept millions of elderly citizens out of poverty and assured young Americans of a more secure future. The Social Security system is essential, yet it faces a deepening long-term problem. While benefits for today's seniors are secure, the system is headed towards bankruptcy down the road. If we do not act soon, Social Security will not be there for our children and grandchildren. So this week I met with the bipartisan leadership of Congress and asked them to...

While saving Social Security became a familiar mantra on the campaign trail, President Bush and members of Congress now actually face the prospect of handling real legislation for reform, and politicians are already lining up along party lines for a fight. "This is going to be one of the hottest issues of the year," said Peter Ferrara, director of the Club for Growth’s Project on Social Security. "We have to do something before the [midterm] election." Getting started on the topic, 16 congressional leaders met Monday with Bush to discuss the alternatives being offered by lawmakers and to consider what...

Social Security is strong, not in danger... Developing...

I spent much of last week talking with Republicans about Social Security reform, but I didn't expect to find myself salivating over the phone. I was in a hotel room in St. Paul when I connected with Senator Lindsey Graham. As he spoke, I could hear Irish music in the background. I could hear laughter and conviviality. It turned out that he was calling me from a pub in Dublin. I can't tell you how much I wanted at that moment to be in an Irish pub and possibly not even talking about entitlement reform. But Graham was going on...

In NEW YORK story of Nov. 5 headlined, "No bonanza for funds seen in Social Security reform," please read "... Pozen ..." instead of "... Pozens ..." throughout. (Correcting name) A corrected repetition follows: By Herbert Lash NEW YORK, Nov 5 (Reuters) - The bonanza many believe President Bush has handed the mutual fund industry with his plans to reform Social Security may be a mirage, industry leaders said on Friday. How workers will be allowed to invest some of their payroll taxes in the stock market is far from clear, but there is a presumption it will be windfall...