U.S. Chamber Applauds Governor Bush's Focus on Social Security

WASHINGTON, DC—The United States Chamber of Commerce today applauded Gov. Bush for his "courageous attempt to address the long-term problems of Social Security."

Chamber Chief Economist Dr. Martin Regalia said that Gov. Bush is attempting to ensure that Social Security is both available and beneficial to future generations.

"Gov. Bush recognizes that while preserving Social Security surpluses is part of the solution, a complete solution must go beyond this aspect and use the benefits of private sector investment to boost returns and enhance yields for the future generations," said Regalia.

"Private investment options not only will increase yields to future retirees, but will enhance savings and investment in the economy and boost future economic growth," he added.

Regalia also applauded Bush's proposal to end Medicare budgeting gimmicks by fully accounting for all Medicare expenditures in a unified measure of that program's fiscal health.

"Part of reforming Medicare into a comprehensive program means financing the benefits so they take care of seniors' needs, not the Congress's short-term budget needs," he concluded.

The U.S. Chamber of Commerce is the world's largest business federation, representing more than three million businesses and organizations of every size, sector and region.

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