WASHINGTON (AP) -- The Bush administration said in a new report Monday that Social Security is facing a $13.6 trillion shortfall in coming years and that delaying reforms is not fair to younger workers.
A report issued by the Treasury Department said that some combination of benefit cuts and tax increases will need to be considered to permanently fix the funding shortfall. But White House officials stressed that President Bush remains opposed to raising taxes.
Treasury Secretary Henry Paulson said he hoped the new report would help find common ground on the politically divisive issue, but a key Democrat charged that the administration will still try to fix Social
Security by imposing sharp benefit reductions.
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