WASHINGTON (Reuters) - The creation of personal investment accounts advocated by President Bush would not be a cure-all for the problems facing Social Security, which needs other reforms as well, the U.S. comptroller general said on Monday.
Fixing Social Security "should have happened already" since it was a relatively small part of the country's long-term fiscal problem, David Walker told a meeting of accountants.
The real threat to the country's solvency is health care, particularly soaring costs under the Medicare health care program for the elderly, he warned.
While personal investment accounts may make sense under some circumstances, comprehensive reform of the federal Social Security retirement program would mean changes, such as an increase in the retirement age or a shift in how cost-of-living adjustments are made, Walker said.
http://www.reuters.com/newsArticle.jhtml?type=domesticNews&storyID=7077491 How's this for an answer: No reform needed. Social Security is not broken.