Answer to Question 1
An ideal response will:
1, Contrast the two plans: Bush proposed diverting about a third of individuals' Social Security contributions to private retirement funds. The idea was that individuals could reduce their contribution and put that part of the money into a private account to gain more interest.
2, Unlike Bush, Obama has adamantly opposed any privatization of Social Security. Obama set up a commission to recommend changes that would secure Social Security's long-term viability. Other than the privatization proposal, however, Obama has insisted that all ideas should be on the table for the commission's consideration.
3, The commission made four recommendations to increase the soundness of Social Security for the future: (1) Gradually increase the age by which people would be entitledto benefits; (2) revise the inflation adjustment formula for benefits so that recipientswould receive less of a raise every year; (3) reduce benefits for retirees who havesubstantial income from other sources; and (4) raise the maximum contribution thatworkers pay into the system, thereby taxing wealthy Americans more.
Answer to Question 2
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