Political Quotes

“The challenges of Social Security are real, and as short a time ago as 5 years to 6 years, it was considered very unpopular to discuss any changes in the Social Security system. Certainly the fact that we have an aging population and a slowing down of the birth rate, in fact, many countries of the world, and the United States is approaching that situation, where we are going even below the zero sum growth. If a mother has an average of something like 2.2 children, then on average it is going to replace the mother and the father. But many countries of Europe, most countries of Europe, and now the United States, are approaching a situation where we are not reproducing a workforce that ultimately is going to have to pay Social Security benefits, and that is because we have a Social Security system that is referred to as 'pay as you go.' That means we tax the existing workers of this country and their taxes immediately are sent out in benefits to recipients.”