Issue of the Week: Bush's budget crisis
The White House is backing out of its promise not to touch Social Security. During Bush's campaign and first few months as president, he pledged to protect every cent of Social Security reserves, and now in the face of a less-than-expected budget surplus it appears that the White House will rescind that pledge.
According to the non-partisan Congressional Budget Office the government has to use $9 billion of Social Security reserves to cover the fiscal year ending on Sept. 30. Bush and Congress had vowed to use the surplus of Social Security taxes on paying down the debt and overhauling the retirement system.