ANNE M. NORTHUP: “That is true and certainly in an accounting system, no one would…”

On the recordApril 27, 2005

That is true and certainly in an accounting system, no one would approve an accounting system where the assets that are coming in are going to have to meet future liabilities without also accounting for those future liabilities. If you can reduce a 10 or 11 or $12 trillion liability to a $2 trillion transition, that you incur as a transition, what you have done is overall reduced liability to our children and grandchildren. That is an excellent point. Mr. Speaker, I yield to the gentleman from Indiana (Mr. Chocola).

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ANNE M. NORTHUP

Kentucky

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More from ANNE M. NORTHUP

Apr 27, 2005

Reclaiming my time, let me close by thanking my colleagues who are here tonight. The gentleman from Elkhart, Indiana (Mr. Chocola) has been a friend who has been on the floor. We have had opportunities to discuss this previously, and I…

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Apr 27, 2005

Reclaiming my time, I know our time is about up. So let me start by yielding to the gentleman from Wisconsin (Mr. Ryan) to see if he has any final thoughts or anything he wants to say in conclusion.

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Apr 27, 2005

I agree. We are all looking for the best possible solution. I think when you ask the question, can we afford to wait, the follow- up question is, or what we often hear from the other side of the aisle, we do not have a crisis now because…

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Jul 20, 2005

Reclaiming my time, it is really a matter of restoring the confidence of the American people that we are going to act in the best long-term interests, fiscal interests, of this country. So I thank the gentlewoman very much for her thoughts…

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ANNE M. NORTHUP: “That is true and certainly in an accounting system, no one would approve an accounting system where the assets that are…”