Subject: Explanation of the Presidents new social security plan.
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>
> President Bush explains his Social Security Reform Proposal
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>
>WOMAN IN AUDIENCE: "I don't really understand. How is it the new plan
going
>to fix the problem?"
>
>Verbatim response:
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>
>PRESIDENT BUSH: "Because the -- all which is on the table begins to
address
>the big cost drivers. For example, how benefits are calculated, for
>example,
>is on the table. Whether or not benefits rise based upon wage
increases or
>price increases. There's a series of parts of the formula that are
being
>considered. And when you couple that, those different cost drivers,
>affecting those -- changing those with personal accounts, the idea is
to
>get
>what has been promised more likely to be -- or closer delivered to
that has
>been promised. Does that make any sense to you? It's kind of muddled.
Look,
>there's a series of things that cause the --like, for example,
benefits are
>calculated based upon the increase of wages, as opposed to the
increase of
>prices. Some have suggested that we calculate -- the benefits will
rise
>based upon inflation, supposed to wage increases. There is a reform
that
>would help solve the red if that were put into effect. In other words,
how
>fast benefits grow, how fast the promised benefits grow, if those --
if
>that
>growth is affected, it will help on the red."
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>Forward this to others so they too can understand...
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