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Bush Defends Plans for Social Security


George W. Bush
President Bush has defended his new proposal to cut some retirement benefits as part of his reform of the U.S. pension program, Social Security.

Mr. Bush announced a proposal Thursday that would curb the growth rate of pensions for wealthier Americans, while protecting the pensions of low-wage earners.

In his weekly radio address Saturday, Mr. Bush said he believes a reformed Social Security system should protect those who rely on it the most.

He called for bipartisan efforts to help fix the system, which he has said faces bankruptcy in the coming decades unless action is taken.

Leading congressional Democrats have criticized the new proposal, saying it would actually mean a cut in benefits for middle-class senior citizens. They also oppose another change to Social Security Mr. Bush is still advocating, giving younger workers the option to invest in personal retirement accounts.

Some information for this report provided by AP and Reuters.