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'The dramatically reducing cost of broadband and increased processing power gives a new world of commercial solutions.
Any comprehensive solution is almost certain to require additional steps that could set off a political firestorm, such as raising the retirement age and reducing cost of living adjustments.
But, as Al Gore repeatedly pointed out during the campaign, Mr. Bush presented his plan as all gain and no pain, sidestepping the debate over whether restoring Social Security's health would require steps like cutting the guaranteed benefit, reducing cost of living increases for beneficiaries or raising the retirement age.
The co-chairmen of President Bush's Social Security commission said today that they would probably have to propose politically difficult steps like raising the retirement age and reducing cost of living adjustments when they make recommendations to the White House for restoring the system's long-term financial health.
[A1.] Difficult Steps for Social Security The co-chairmen of President Bush's Social Security commission said that they would probably have to propose politically difficult steps like raising the retirement age and reducing cost of living adjustments to restore the system's long-term health.
Among them are how to pay for any privatization plan -- the approach most often considered would require an infusion of up to $1 trillion over the coming decade -- and whether establishing private accounts would be accompanied by painful measures like raising the retirement age and reducing cost of living increases.
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Senator Daniel Patrick Moynihan, Democrat of New York, has proposed reducing cost-of-living adjustments.
It would involve some combination of substantially raising the retirement age, sharply reducing cost-of-living adjustments and heavily taxing those private accounts when they are cashed in.
House Republicans on Monday proposed their own 10-year blueprint, calling for a higher eligibility age for Medicare and reducing cost-of-living increases for Social Security benefits.
The treasurer, Scott Morrison, said the government's energy market policies, for Australia and the region, had to ensure that energy prices were more affordable, while reducing cost-of-living pressures and promoting growth.
There are a number of steps that could be taken before then to keep the program sustainable, like raising taxes, reducing benefits by raising the retirement age, or reducing cost-of-living increases.
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