Political Quotes

“another issue that is, of course, timely and is brought up on a regular basis is the future of Social Security. I believe there is a problem with Social Security. The President has said the same. However, I don't believe President Bush's plan to privatize Social Security is going to help. I think it is going to make the problem even worse. Social Security should be strengthened, not weakened. Why isn't President Bush's plan the right way to save Social Security? First, President Bush's plan would make deep cuts in the benefit paid under Social Security and in the process dramatically increase the deficit. The President's privatization plan for Social Security diverts money from the Social Security trust fund and creates an immediate cash-flow problem affecting seniors and those who are retiring right now. We know that untouched the Social Security Program will pay every benefit promised with the cost-of-living adjustment until the year 2042, at a minimum. Some estimate 2052. For 37 to 47 years, Social Security is sound and solvent. In comes President Bush who says we need to change Social Security. We need to take money out of the Social Security trust fund and allow people to create private accounts. Private accounts may have some value. But what about the money the President just took out of Social Security? Unfortunately, the President has not suggested how we would pay back that money to Social Security.”