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Social Security ... Fifth?

February 5, 2000

It is worth recalling that in his 1999 State of the Union address, President Clinton introduced the phrase "Save Social Security First," pledging to make Social Security reform his top priority. If the 2000 State of the Union is anything to judge by, the President's priorities have changed. Instead of reiterating his "Save Social Security First" pledge, the President's first four requests in the speech were for Congress to pass the so-called "patients' bill of rights," gun control, judicial nominations, and an increased minimum wage.

Only after those priorities did the President ask the Congress "to make a bipartisan down payment on Social Security reform by crediting the interest savings from debt reduction to the Social Security Trust Fund so that it will be strong and sound for the next 50 years."

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  In 1950, there were 16 workers paying Social Security taxes for every retired person receiving benefits. Today there are 3.3. By 2030, there will be only 2.
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