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Secretary Snow today highlighted the importance of reforming Social Security for future generations while in New York City to promote President Bush's second-term economic agenda. From Wall Street's leaders, I'm hearing broad consensus for the need to reduce Social Security's long-term structural deficit. A bi-partisan effort in the 109th Congress can achieve the goal of preserving Social Security benefits for retirees and near-retirees, while modernizing the program, without increasing payroll taxes. As I have expressed to the financial community here this week, the Bush Administration is dedicated to achieving that goal.
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