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February 2, 2005 3:00 AM

Bush warns of Social Security's `bankruptcy,' calls for change

President Bush urged Congress Wednesday to overhaul Social Security as the centerpiece of his ambitious second-term agenda, arguing that younger Americans can no longer count on the venerated New Deal program because its headed for what he called bankruptcy. Bush made his bold proposal in a State of the Union address to a joint session of Congress and to Americans watching at home on live television, splitting his themes almost evenly between foreign affairs and domestic concerns. Bush lauded the recent elections in Iraq, Palestinian territories and Afghanistan as proof that freedom and democracy are on the march worldwide and that his aggressive and sometimes controversial foreign policy is paying off.

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