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Retirees per worker, and more money starts going out than is coming in. >> the ryan republican bill would partially privatize social security. future retirees would receive a combination of reduced federal benefits and income from a personal savings account carved out of their social security account. the president wants to lift the income cap on social security taxes, which is now around $107,000 a year. and in his speech today, the president may have unwittingly stumbled upon the reason republicans really want to cut education spending. >> how many of you who are in the audience have got an ...

Out of their social security account. the president wants to lift the income cap on social security taxes, which is now around $107,000 a year. and in his speech today, the president may have unwittingly stumbled upon the reason republicans really want to cut education spending. >> how many of you who are in the audience have got an pell grant to help you pay your way? how many of you can't afford to pay another thousand dollars to go to school? i know what this is like. scholarships help make it possible for me and for michelle to go to college. it's fair to say i wouldn't be president if it ...

Income cap on social security taxes, which is now around $107,000 a year. and in his speech today, the president may have unwittingly stumbled upon the reason republicans really want to cut education spending. >> how many of you who are in the audience have got an pell grant to help you pay your way? how many of you can't afford to pay another thousand dollars to go to school? i know what this is like. scholarships help make it possible for me and for michelle to go to college. it's fair to say i wouldn't be president if p it hadn't been for somebody helping me be able to afford college. >> j...