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November 9, 2004 08:15 PM

What Social Security Might Look Like


Excerpt: In the end, whether it's now or later, a generation of Americans has to pay.


NEW YORK (CNN/Money) - President Bush plans to make Social Security reform one of the top priorities in his second term.

The president says his Cabinet will immediately begin efforts to reform America's ailing system, but he said making changes to the retirement program would be particularly challenging.

"I will meet with both Republican and Democratic leaders," Bush said in his first news conference after the bitterly contested presidential election. "We will start bringing together those in Congress who agree with my assessment that we need to work together."

(For more on what Bush mentioned regarding the economy in his Thursday news conference, click here).

The future of Social Security -- and the financial strains it faces when 77 million baby boomers begin to retire -- was an issue in this year's presidential elections.

During the final few months of a vigorous campaign for the presidency, Sen. John Kerry had suggested that the president was planning a "January surprise" -- the swift privatization of Social Security.

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Read all 23 posts in the same category of Retirement:

Bush Says Social Security Plan Would Reassure Markets - Dec 17, 2004
Are You Ready To Retire? - Dec 13, 2004
Last-Minute Retirement Planning - Dec 12, 2004
Small Change Adds Up To Big Savings - Dec 09, 2004
Bush To Borrow To Fix Social Security - Dec 07, 2004
Moving Smoothly Into Retirement - Dec 07, 2004
Get Healthy, Get Wealthy - Dec 06, 2004
Five Books to Retire By - Dec 05, 2004
Tax Policy Promotes Early Retirement - Dec 02, 2004
Fidelity Analyzes Pension Performance - Dec 02, 2004
Social Security COLA Increase Looks Puny - Dec 02, 2004
No More IRA Leniency - Nov 29, 2004
To Yield A Good Retirement, Get Real, And Work It Out - Nov 28, 2004
Social Security Reforms On The Way? - Nov 26, 2004
Some New Ways To Preserve Your Retirement - Nov 23, 2004
Living Trust Offers: How to Make Sure They're Trust-Worthy - Nov 22, 2004
How to Forecast a Lifespan - Nov 21, 2004
Be Happy, And Put Retirement Fears to Rest - Nov 21, 2004
Seven Ways to Stop Saying 'Oops!' - Nov 21, 2004
Retirees Don't Have to Be So Frugal: A Case for Withdrawing Up to 6% a Year - Nov 17, 2004
How to Avoid Living Like a Poor Student at Age 70 - Nov 09, 2004
Are You Retirement Ready -- Or Not? - Nov 03, 2004