(Archived Content)
FROM THE OFFICE OF PUBLIC AFFAIRS
2005-5-3-13-13-8-22947
Secretary John Snow today addressed the American Academy of Actuaries on strengthening and preserving Social Security. One of the President's core beliefs on Social Security is that we ought to move toward a system that is pre-funded, that we should gradually move away from a pay-as-you-go model and give Americans the chance to save their own money. He wants to move away from the filing cabinet of IOUs and toward something that people actually own and that represents real capital.
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