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Strengthening Social Security for the 21st Century

机译:加强21世纪的社会保障

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President Bush today discussed the importance of Social Security and the need to fix the Social Security system for future generations of Americans. The President is committed to keeping the promise of Social Security for today's retirees and those nearing retirement, guaranteeing no change for those born before 1950. Doing nothing to fix our Social Security system would mean that our children and grandchildren would have to borrow an estimated $10.4 trillion, according to the Social Security Trustees. Each year the Social Security System fails to undergo fundamental reform costs an additional $600 billion, which will continue to rise. In 2018, the government will begin to pay out more in Social Security benefits than it gets in backs in revenue. As a result of these demographic changes, the current system will not be able to afford to pay the benefits scheduled for future generations without enormous payroll tax increases or huge benefit cuts.

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