Political Quotes

“for millions of Americans their retirement has become less, not more, secure. Part of the problem is that we are not saving enough. Half of all Americans do not participate in employer-sponsored retirement plans, and for 28 million households they have no retirement plans outside of Social Security. A savings crisis in America, combined with privatizing Social Security, is a recipe for disaster. As the collapse of the United Airlines pension demonstrates, Social Security is a key to retirement security for many Americans. We must preserve Social Security while we encourage Americans to save more for their retirement. Here are four ideas: Automatic enrollment in 401(k)'s for all Americans; direct deposit of their tax refunds into their savings plans; government match for the first $2,000 they save, matching it by 50 percent; and universal 401(k)'s to simplify and consolidate the 16 different tax savings plans on the tax rolls. Mr. Speaker, a saving crisis faces America, but we can do something about it. We should act now to encourage more Americans to save for their retirement while strengthening Social Security, not privatizing it. ____________________”