White House Waters Down Social Security Plan

"Treasury Secretary John W. Snow said Wednesday that the Bush administration would not rule out consideration of a very different approach to private investment accounts for Social Security from the one advocated so far by the White House.

Mr. Snow said the administration wanted to encourage the development of as many ideas as possible and that it was open to looking at personal accounts that would supplement Social Security rather than, as in the plan President Bush has proposed, replace a portion of the traditional government-paid benefit."