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Page 5 · column 3 of 5 · from the scan, no model involved
The morning of the recent State of the Union Speech, the administration held a press conference where they 1 trotted out an anonymous “Senior Administration Official” to provide details of Bush’s plan for private accounts and take questions.
The “Senior Administration Official” spoke for a bit about the looming crisis and the need to take action then laid out the broad outlines of the plan. Interestingly, in the midst of promoting the plan, the “Senior Administration Official” casually mentions, as an aside:
“So in a long-term sense, the personal accounts would have a net neutral effect on the fiscal situation of the Social Security and on the federal government.”
That’s odd. It sounds like the Bush administration is saying their own plan won’t help the looming fiscal crisis at all, that it’s all a big distraction and a waste of time and effort. But this is the person promoting the plan. How can that be?
Question: “How do the personal accounts guarantee permanent solvency for Social Security?”
Answer (by a senior administration official: “Well, we talked about the
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