"Republicans in Congress and the White House say they have nearly finished the first stage of their push to overhaul the Social Security system and will soon begin crafting a bill that could pass both chambers by the end of July," the paid-restricted Roll Call reports Monday.
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By May, though, the president is likely to begin the second phase of his effort, sending Congressional leaders more specific details of his vision of how to create private investment accounts under Social Security, how he would like to pay for any transition costs and how to keep the program solvent beyond 2041, said a senior Bush administration official.
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The GOP leadership aide also told Roll Call that Bush has told Republicans in Congress the White House has planned “no exit strategy” even if public opinion polls sink deeper with regard to Americans opposition to private accounts.
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