Baucus counters Bush plan

By the Associated Press - 02/02/2005

HELENA (AP) — Sen. Max Baucus says incentives to boost personal retirement savings are more appropriate than a Bush administration proposal to partially privatize Social Security.

Baucus, D-Mont., said President Bush's plan would cause more harm than good by taking money out of the Social Security program, which is forecast to start paying out more than it brings in 2020, and will run out of reserves to cover the overages sometime between 2042 and 2052.

‘‘It's important to recognize that private accounts do not solve the problem — they make it worse,'' Baucus said Monday. ‘‘It's kind of important to realize Social Security is not an investment plan, it's insurance.'' President Bush is scheduled to visit Great Falls Thursday afternoon, a day after the State of the Union speech. Bush will presumably campaign for Social Security changes while trying to rally public pressure on Baucus, the highest-ranking Democrat on the Senate Finance Committee. That committee will be the first hurdle for the Bush plan.

Baucus said he believes the country should find ways to increase retirement income, but he insists Social Security is not in crisis.

There are ‘‘infinite ways'' to address the Social Security shortfall by 2052, Baucus said.

He predicts that even Republican lawmakers will oppose Bush's proposed Social Security changes.

‘‘This is his (Bush's) baby. It's not the goal of Congressional Republicans,'' Baucus said.

Baucus plans to hold a listening session on Social Security at noon Thursday at the Great Falls Civic Center.

‘‘It's a forum for Max to let folks know how the debate on Social Security is shaping up in Washington and an opportunity for him to hear their concerns,'' said Baucus spokesman Barrett Kaiser.

Baucus plans a second listening session on Friday at 11 a.m. at the South Park Senior Center in Billings.

——— Information from: Independent Record, http://www.helenair.com