Political Quotes

“Mr. President, I want to talk today about a subject that has immense implications for America's future. In fact, I often talk about it as being perhaps the darkest cloud hanging over the future economic well-being of our country that no one ever talks about. It has been hugely ignored; that is, the issue of retirement income and what people are going to do when they retire in the future. I have been focused on this for several years. My HELP Committee has, over the last 2 or 3 years, had 10 hearings on this issue. We have met with a lot of the investment community and retirement benefits community to take a look at what is happening and to see whether we can have a better system for retirement than we have. Right now young people who are working to pay off student loan debt, maybe buy a new home, put a little money away for their own kids' education later on or people who are close to retirement, a nurse who has been working all her life, someone maybe worked in a small business and they are 60 years old, are wondering what are they going to do when they retire. They are worried they will not have enough money to live on. Quite frankly, they are very right to be worried. If you looked at the future work force of America today and you said: What is it this group of people will need to live on when they retire and what they have saved for retirement, there is a deficit. They do not have enough saved on which to retire. How big is that deficit?…”