Bush Social Security Phase-out Stalled

Those of you who've read up on Social Security know that it's a defined benefits program. That is participants have a schedule of benefits defined for them, and they know exactly what to expect to receive in the way of benefits.



Bush wanted to phase out this program and replace it with a defined contributions plan. That is, where you decide now much to put into the program and then hope like hell there's money there when you need it. Think "ENRON."



So, for those who argue that Bush wasn't trying to phase out social security, remember this comment by Bush shortly after the election of 2004 when he thought he had a lot of "political capital."

The "question is whether or not our society has got the will necessary to adjust from a defined benefit plan to a defined contribution plan. And I believe the will will be there."

Don't tell ME these guys aren't out to destroy Social Security.

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From the Washington Post: "We need to figure out a way to phase out this program . . .  and move to a new system that allows them to have something, because they're not going to have anything." - Jeb Bush on phasing out Medicare - July, 2015

https://www.washingtonpost.com/news/wonk/wp/2015/07/24/wonkbook-jeb-bush-wants-to-phase-out-medicare-heres-what-he-meant/?utm_term=.52df4842f284

"The people that are receiving these benefits, I don’t think that we should touch that," Bush went on to say. "We need to figure out a way to phase out this program for others and move to a new system that allows them to have something, because they're not going to have anything." comment