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Politics : PRESIDENT GEORGE W. BUSH
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To: Selectric II who wrote (49491)10/19/2000 10:37:55 PM
From: American Spirit  Read Replies (1) of 769670
 
Democrats see an opening in Bush 'surplus' comment
By Glen Johnson, Globe Staff, 10/19/2000

T. LOUIS - In the closing minutes of his final debate with Al Gore, George W. Bush handed the Democrats a substantive hammer they will try to pound him with for the rest of the campaign.

Asked how he would foot the estimated $1 trillion cost of his plan to let younger workers invest a portion of their Social Security payroll taxes in the stock market, the Texas governor said, ''It comes out of the surplus.''

Bush had seemingly been loathe to explain earlier how he would pay for the proposal, and last night the Democratic National Committee seized upon his admission by launching a new TV ad in 10 states. It notes that Bush has promised senior citizens he will use all of the expected $2.4 trillion surplus in the Social Security program to maintain their benefit checks, yet now has declared he wants to use $1 trillion of that same surplus to also help younger workers establish their investment accounts.

''Which promise is he going to break?'' the ad asks.

Part of the reason Bush has avoided stating how he would pay for his proposal may be that Social Security is so dear to retirees, making proposed changes of any kind a political hazard. Analysts say draining money out of the trust fund surplus would either accelerate its insolvency or necessitate benefit cuts for retirees.
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