http://story.news.yahoo.com/news?tmpl=story&cid=676&e=1&u=/usatoday/20050124/ts_usatoday/socialsecuritycrisisquestionedTwo key Republican lawmakers suggested Sunday that Social Security (news - web sites) is not in crisis and questioned President Bush (news - web sites)'s proposal to let younger workers invest part of their payroll taxes in private accounts.
Rep. Bill Thomas, R-Calif., chairman of the House panel that handles Social Security, and Sen. Olympia Snowe (news, bio, voting record), R-Maine, a pivotal moderate on the Senate Finance Committee, said any proposal for private accounts should be part of a larger overhaul of Social Security.
Bush has called Social Security's finances a "crisis." But Thomas, appearing on NBC, said "I think 'problem' is really what we're dealing with." Snowe said Congress should take its time weighing changes. "First of all, we have to reach a consensus on the level of urgency and the magnitude of the problem," she said on CNN.
Thomas said Bush's proposal alone "doesn't address the fundamental inadequacies of dealing with seniors in our society today." He suggested Congress examine controversial ideas, such as varying retirement ages based on gender, race and occupation, and new ways to finance all benefits for seniors - Medicare and Medicaid as well as Social Security.
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