.. Campaign officials argued that the president has long discussed plans to help shore up Social Security, partly through allowing some funds to be transferred to personal savings accounts.
Bush "has never used the word privatization," a campaign official said, accusing Kerry of trying to "scare seniors."
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At a rally Sunday outside Miami, Kerry ripped into Bush's plans for personal savings accounts.
"The Congressional Budget Office, which is bipartisan, said that the president's plan will mean a 25 to 45 percent cut in benefits. It blows a $2 trillion hole in Social Security," Kerry said.
"I will never privatize Social Security," the Massachusetts senator said. "I'll never cut the benefits, and I won't raise the retirement age."
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But they focused most of their comments on the program that Bush has previously announced, arguing it would hurt seniors and place a burden on all taxpayers.
It was not clear whether Bush's comment as quoted in the Times Magazine signaled a plan different from what he has described publicly.
In the third and final presidential debate last week, Bush said allowing workers to put some of their payroll taxes into personal savings accounts could allow them "to get better rates of return than the rates of return being given in the current Social Security trust.
"And the compounding rate of interest effect will make it more likely that the Social Security system is solvent for our children and our grandchildren."
In a written statement, Kerry said such a move "might be a good surprise for the wealthy and well-connected, but it's a disaster for America's middle class.
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"Even the president's own economic advisers say his plan will blow a $2 trillion hole in Social Security. And guess who will pay for it? You will," Kerry's statement said.
"America's seniors are already facing higher prescription drug costs, record high Medicare premiums, and higher gas costs.
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In response to Kerry's statement, White House spokesman Trent Duffy said in a news release, "The president is the only candidate to talk about the need to strengthen, preserve and modernize Social Security.
"His plan would make sure that for retirees and near-retirees there are no changes in benefits, while recognizing that we need to give younger workers a better system so that Social Security will be there for them." ..
- no China mentioned, but BushCo are quoting from CATO in Hong Kong.
