Archer and many Republicans do not agree with details of the president's Social Security rescue plan. But finding common ground for other solutions may prove much more challenging.
Republicans prefer handing money back to taxpayers so they can direct their own retirement funds.
Democrats prefer a mixed approach, with both private retirement accounts as well as a pool of cash managed by an independent government agency and invested on Wall Street. Rep. Bill Archer, R-Texas, the powerful chairman of the House Ways and Means Committee, signaled today that he would support President Clinton's call to using much of the projected budget surplus for shoring up Social Security. Rep. Charles Rangel of New York, the senior Democrat of the same committee, applauded Archer's support for setting aside the surplus. Archer and other GOP leaders strongly oppose having the government invest money in the stock market, fearing political interference. Federal Reserve Chairman Alan Greenspan this week added his influential voice to that opposition.