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Article: Grams outlines his plan to bolster Social Security; Private investment would be optional under proposal.(NEWS)
- Article from:
- Star Tribune (Minneapolis, MN)
- Article date:
- September 16, 1998
- Author:
CopyrightCOPYRIGHT 1998 Star Tribune Co. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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After hinting for months that a bold move toward privatizing Social Security was afoot, Sen. Rod Grams, R-Minn., announced legislation Tuesday that would allow workers to shift from the government program to regulated private investments.
Grams acknowledged that, amid erratic swings in the stock market, his call for allowing volunteers to partly privatize the program carries political risk as he gears up for a reelection campaign in 2000.
"I know that there is a fine line between being courageous and being foolish, but I think we have to push for this program to at least be a part of the debate," he said after a speech Tuesday at the Cato Institute in ...