Apr 29 2005

Statement from Lindsey Graham on President Bush's Call for Progressive Price Indexing in Social Security

WASHINGTON – U.S. Senator Lindsey Graham (R-South Carolina) today issued the following statement on President Bush’s call for progressive price indexing of future Social Security benefits. “The President took a bold step toward restoring solvency to Social Security by embracing benefit growth reduction for upper income workers. “The most significant aspect of the decision is the President has chosen to put future benefits, for those born after 1950, on the table for restructuring – an idea rejected by some Republican plans. “With progressive-price indexing changes as part of the President’s solution, the next step is to discuss how to set up a personal account. Setting up personal accounts should be done without changing the structure or purpose of Social Security and have a minimal effect on the deficit. “I applaud my Republican colleagues for being brave in offering solutions. Now it’s time for us to embrace the President’s proposal and understanding that future benefits need to be recalculated. I also urge them to keep an open mind about personal accounts that would be paid for and progressive.” #####