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Breaux, Gregg Offer Bipartisan Principles for Reform
August 2, 2001
Writing
in The Washington Post, Senators John Breaux (D-LA) and Judd Gregg
(R-NH) decried the current partisan rhetoric surrounding Social Security reform,
and offered a set of principles that they said could form the basis of a bipartisan
consensus on how to strengthen the nation's troubled retirement program. Breaux
and Gregg urged both Democrats and Republicans to agree that:
- Boosting national savings is vital to the
economy;
- Reform must strengthen, not weaken, retirement
security for all;
- Women and low-income families should be
better off;
- Reform should not affect Americans at or near
retirement;
- Reform should not overburden younger
Americans;
- Market investment can generate a higher rate-of-return;
and
- Some of the on-budget surplus can be used to
reform the system.
Breaux and Gregg do not endorse any particular proposal, but it is worth
noting that both have supported individual accounts in the past.
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