After a December 9 meeting with the trustees of Social Security, who told him the system faces an $11 trillion long-term unfunded liability, President Bush held firm and vowed to reporters: "We will not raise payroll taxes to solve this problem."
Don Devine of the American Conservative Union enthusiastically applauded the President's commitment. "This was a 'read my lips' moment," said Devine. "ACU expects President Bush will keep his word and oppose any Social Security reform plan that would raise the payroll tax."
