FIXING SOCIAL SECURITY

February 2005
		President Bush embarked on a five-state tour Feb. 3 to promote his plans for reshaping the Social Security system. Two experts answered your questions about how the program might be modified and what the changes may mean for the public. (Click here to view the completed forum.)

Online NewsHour Special Report: Social Security Reform Jan. 11, 2005: Social Security experts assess the president's reform plan. Background report: How the debate is shaping up on Capitol Hill More NewsHour coverage of Social Security	President Bush urged Congress to revamp Social Security during his State of the Union address Feb. 2, warning the program would go bankrupt if changes were not made. "Social Security ... on its current path, is headed toward bankruptcy. And so we must join together to strengthen and save Social Security," he said. The next day he launched a five-state, two-day trip to try to persuade lawmakers in North Dakota, Montana, Nebraska, Arkansas and Florida and the general public that the social program needs restructuring. Although he said all options are on the table, from increasing the retirement age to changing the way benefits are calculated, he said certain guidelines must be followed: payroll taxes won't increase and benefits won't change for those 55 years or older. In particular, President Bush is promoting the controversial idea of allowing young workers to put some of their Social Security contributions into personal investment accounts. Peter Orszag, senior fellow in economic studies at the Brookings Institution, and Michael Tanner, director of health and welfare studies at the Cato Institute, answered your questions about personal accounts and other proposed changes to the 70-year-old Social Security system.