in Savannah, we are blessed. My wife's grandmother, 97-year-old Betty Carswell is still alive and in good health. She is on Social Security and she needs it. When I was a boy, growing up down the street my good friend Ross Fox's dad died, and when he died, leaving Mrs. Fox with two young boys to take care of, Social Security was there to protect them. Yet today Social Security is in trouble. By the year 2030, it will be out of money. There are six positive steps we can take, however, to protect and preserve Social Security. Number one is to have some principles, to say that the benefits for current retirees and near retirees will not be increased; number two, to lock away the Social Security surplus so that the money will not be spent on roads and bridges but used only for Social Security; number three, taxes for Social Security should not be increased; number four, the government should not invest Social Security funds in the stock market; number five, modernization of Social Security should not change the disability and survivors' components for friends like Ross Fox, who lose their loved one, their parents; number six, a portion of the Social Security account should be personalized so that younger people on a voluntary basis would have the option of putting theirs in an interest-bearing account which earns more money than Social Security. Mr. Speaker, we can do this. We can have a good voluntary program to set up to protect and preserve Social Security.
Jack Kingston: “in Savannah, we are blessed. My wife's grandmother, 97-year-old Betty Carswell is still alive and in good health. She is…”
On the recordJuly 12, 2000
Source
govinfo.govEditor's note · Context
Discussing the future of Social Security and proposing steps to preserve it.
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