Bush: Opponents of Social Security Reform Will "Pay Price"

Leaving little doubt as to his feelings toward opponents of his privatization plan for Social Security, President Bush said in an interview last week that there will be "a political price for not getting involved in the process." In a barnstorming 60-day tour to promote his plan for Social Security reform and other issues on his domestic agenda, the president has encouraged bi-partisan input, but said during a stop in Iowa that there would be a backlash for those who say (Social Security) "is not a problem, I'm going to stay away from the table." Coinciding with the president's visit to Iowa was a report released by AARP which shows that large portions of its membership opposed the president's plan to privatize the 70-year-old system. In addition, his plan has received a lukewarm response from many Republicans while receiving persistent opposition from Democrats. Under his plan the president wants to allow younger workers to establish private or personal investment accounts with part of their Social Security taxes. However, opponents have pointed to the massive transition costs to the private system which are estimated to be over $1 trillion.