Presidents seeks Social Security reform - WALB.com, Albany News, Weather, Sports

Presidents seeks Social Security reform

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February 2, 2005

Albany- Vic Sullivan tuned in to listen to the President Wednesday night, along with millions of Americans.

During the day, he helps South Georgians plan their financial futures, and he knows Social Security must change.

"It has been an issue they have so easily pushed away for a generation. I mean we've seen this coming," said Sullivan, Vice President of Investments for A.G. Edwards in Albany.

The President presented options like investing some of the money in the stock market, either as a group or individually.

"If you could put it in something, like some sort of mutual fund, where it could grow for about 30 or 40 or 50 years, that's certainly an opportunity to have a higher rate of return," he said.

That's not the only plan lawmakers are looking at. Bush even mentioned raising the age at which you can start collecting social security.

"If they just raised it to 67 to 65, it would change everything. It would change the way the numbers work dramatically."

Regardless of how it's reformed, people who work in the reality of numbers know without change, the system will collapse.

"It's inevitable that change has to be made... Bush, at least, is putting the issue on the table. They can't continue to put this off."

Now, it's up to elected leaders to decide exactly how that change will be made.

posted at 11:38 p.m. by brannon.stewart@walb.com