WASHINGTON (Reuters) - President Bush said on Thursday he would focus for now on the financial problems facing Social Security, signaling a shift in tactics amid a slide in support for his private account plan.
The emphasis on the financial problems facing the retirement system as the huge baby-boom generation begins to retire comes as opinion polls show declining support for Bush's plan to carve investment accounts out of the program.
Senate Democrats asserted they had the votes to block his plan....
As Bush spoke, Sen. Democratic leader Harry Reid of Nevada gathered the signatures of 42 senators on a letter urging Bush to publicly reject the creation of private accounts funded through Social Security payroll taxes. "Such a statement would eliminate a serious obstacle" to garnering Democratic support for changing Social Security, the letter said. Reid's aides said he intended to send the letter to Bush on Friday. With 42 Senate signatories, it appears Reid would have the votes to mount a filibuster to block Bush's plan, aides said.
http://story.news.yahoo.com/news?tmpl=story&cid=1896&ncid=1896&e=5&u=/nm/20050304/us_nm/retirement_dc_12