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Friday, February 02, 2007
Treasury chief: Don't expect action on Social Security
WASHINGTON (Reuters) - U.S. Treasury Secretary Henry Paulson conceded on Friday that chances were slim for agreeing on a way to reform Social Security financing, but said he would keep trying to find bipartisan support for it.

"There's not a high degree of likelihood. I'm not naive, given how politically contentious this is, that we'll get this done," Paulson said in an interview on CNBC Television.

Paulson said it was important to try to "get people together and come to the table without preconditions" but, if it doesn't work, at least he will "move the ball downfield" and get in position for reform in the future.

The U.S. Treasury chief has been meeting Democrats privately on Capitol Hill to try to find grounds for agreement on a method for reforming Social Security before the retirement system comes under severe pressure as more "baby boomers" retire.
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