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GOP Lawmakers Downplay Social Security “Crisis”

HeadlineJan 24, 2005

In news on social security, two prominent Republican lawmakers questioned President Bush’s push to privatize social security accounts. House Ways and Means Committee Chairman Bill Thomas appeared on Meet the Press Sunday and questioned Bush’s description of the state of social security as a crisis. Meanwhile Republican Senator Olympia Snowe of Maine Snowe said she opposes the high cost of making the switch to private accounts. The short run cost to the government is estimated to be $1 to $2 trillion. Snowe said “There is a lot of fear among seniors.”

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