Former President George W. Bush today told attendees at Pershing's annual Insite conference that entitlement programs like Social Security and Medicare need to be converted into defined contribution plans in order to remain sustainable.
When asked if he had any regrets about his eight years in the Oval Office, Bush said that he wished he had put immigration reform ahead of Social Security reform. Bush remarked that if during his first term he had put the priority on immigration reform, which he talked a lot about in the 2004 election campaign and made a first priority in his second term, it would have made Social Security reform more acceptable.
He also conceded that he made his plan for the partial privatization of Social Security "too complex" for many people to understand.
- Evan Simonoff