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November 28, 2004 04:31 AM

Borrowing For Social Security Plan?


Excerpt: Facing record budget deficits, the Bush administration likely will turn to short-term government borrowing to help finance its plan to add personal retirement accounts to Social Security, officials said Saturday.


Facing record budget deficits, the Bush administration likely will turn to short-term government borrowing to help finance its plan to add personal retirement accounts to Social Security, officials said Saturday.

President Bush's economic advisers have been analyzing financing options for more than a year in preparation for Bush's second-term push to overhaul the Social Security system. Officials say no final decisions have been made.

Bush's advisers believe a short-term increase in borrowing is likely necessary to finance the transition to private accounts. They say this increase is economically feasible, and that the cost of doing nothing would be far greater long-term.

While the nation's debt load would increase initially, it would fall as the reforms are phased in, advocates say.

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Read all 21 posts in the same category of Economy:

U.S. Quiet on China Trade Tax - Dec 17, 2004
Fed Raises Interest Rates for 5th Time This Year - Dec 17, 2004
OPEC Considers Output Cut to Keep Prices From Falling - Dec 09, 2004
A Plan For U.S. Energy Security? - Dec 08, 2004
Fed Heading For A Pause - Dec 07, 2004
Social Security Reform = New Debt - Dec 06, 2004
Fed Sees Growth, Measured Rate Hikes - Dec 05, 2004
Weak Employment Rport Casts Doubts Over US Economic Strength - Dec 05, 2004
Fed: Inflation Not Setting Off Alarms - Dec 05, 2004
Balancing Act On The Buck - Dec 04, 2004
Job Growth Is Well Below Wall Street Forecasts - Dec 03, 2004
Fed Reports Growth In 11 Of 12 Regions - Dec 02, 2004
Inflation Under Control, Fed Gov. Says - Dec 02, 2004
Global Forecasts for 2005 Growth Are Reduced - Nov 30, 2004
No Longer Top Dollar? - Nov 26, 2004
Don't Worry ... Don't Be Happy - Nov 26, 2004
Is Another Recession Brewing? - Nov 25, 2004
Inflation Is Tame, Right? - Nov 24, 2004
The Dollar Is Down, But Should Anyone Care? - Nov 21, 2004
Bush Sets Plans To Revamp Taxes, Social Security - Nov 04, 2004