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Finance Committee Reschedules Hearing for Social Security Commissioner

October 2, 2001

The Senate Finance Committee will hold a hearing on Thursday, October 4 to consider the nomination of Jo Anne Barnhart to be Social Security Commissioner. Some labor unions have been pressuring Democrats on the committee to confront Barnhart over her support for individual accounts. In the wake of September 11, the hearing is likely to be far less contentious than once thought, but the issue of Social Security reform is still likely to come up.

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  Social Security pays more than $450 billion in benefits each year. If nothing is done, by 2060, the combination of Social Security and Medicare will account for more than 71 percent of the federal budget.
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