News Release

September 3, 2004

Media Contact: (202) 789-5200

On Social Security, Bush offers opportunity for younger workers

WASHINGTON -- Michael Tanner, director of the Cato Institute's Project on Social Security Choice, made the following comments Thursday evening regarding President Bush's call for Social Security reform in his nomination-acceptance speech at the Republican National Convention:

"The President's call tonight for Social Security reform shows that, on this issue at least, there are bright line differences between the two candidates. President Bush recognizes the urgent need for facing up to Social Security's looming financial crisis. Moreover, he sees the need for Social Security reform as an opportunity to give workers true ownership and control over their retirement money. John Kerry, on the other hand, said last week that he believes Social Security needs nothing more than 'a tweak,' and opposes any proposal to allow younger workers to privately invest their Social Security taxes. It is clear that for younger workers, there is only one candidate offering them an opportunity to truly realize their retirement dreams."

Tanner is available for additional comment on Social Security reform.

Cato President Edward H. Crane is also available on Friday for comment and analysis of Bush's Social Security remarks. To arrange an interview, contact the Cato media relations office at 202-789-5200 or email media@cato.org.