Political Quotes

On the recordFebruary 24, 1999
perhaps the first question that needs to be asked is: Why does Social Security need to be saved? The response, of course, is that Social Security is going bankrupt. But the real question then becomes: Why is Social Security going bankrupt? The answer, as everyone knows, is because the baby boom generation will begin to retire in about 13 years. But then the real question becomes: Why should that matter? What kind of a system is it that goes bankrupt depending upon demographics, which is to say the number of people retiring compared to the number of workers? It is a good thing that private insurance companies are not run that way. They are not run that way because to do so would be to run an illegal pyramid scheme. Pyramid schemes are illegal for a good reason. They are positively guaranteed to go bankrupt. Democrats and Republicans are waking up to the reality of a system that should need saving but that does. We should work together to produce a system that works for everyone, young and old alike.
Said by
John Cooksey
Republican · Louisiana

Editor's note · Context

Discussing the need to reform Social Security due to impending bankruptcy.

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