posted on Sep, 30 2012 @ 02:34 PM
Bush made a stab at fixing it in 05. 2003: Progressive indexing would eliminate 2/3 of shortfall
The president believed that younger workers should be able to set it aside in their own retirement accounts. On April 28, 2005, in another effort to
jump-start the debate, Bush embraced a proposal that would have protected low-wage workers and cut Social Security's projected shortfall. The idea,
"progressive indexing," was proposed by a Democrat: Social Security benefits are small, but they do increase over time based on a formula that takes
into account both inflation and an index that averages the national increase in wages. Progressive indexing keeps that formula for the bottom 30% of
wage earners, but for top-tier earners calculate benefit increases using inflation only. Everyone would get a Social Security check equal to or
greater in purchasing power than they would receive today, but low-wage earners would receive the more generous benefit increases the country could
not afford for everyone. This one change would have eliminated roughly two-thirds of the Social Security shortfall.
Source: Courage and Consequence, by Karl Rove, p.408-410 , Mar 9, 2010
It is political suicide unfortunately to speak of SS. His idea looked pretty fair to me.