Political Quotes

“everybody talks so calmly about Social Security. Let me just stress that the greatest danger is doing nothing. I would suggest to the gentleman from Michigan (Mr. Levin) that everyone that criticizes anybody else's plan should come up with their own plan that is going to keep Social Security solvent. Look, we all agree this is a great program. Fifty percent of the people on retirement today would be at the poverty level if they did not have Social Security. So what are we going to do? I just feel so strongly, and it is somewhat irritating that it is easy to criticize, to nit and pick. But I would humbly suggest that everybody that criticizes anybody else's plans, including the commission's, should come up with their own prompt proposal that keeps Social Security solvent. Now, some people say, well, look, just pay back what we owe the trust fund and we will still be able to pay 70 percent of the benefits in 2034. Well, it is all going to take money. After there is less revenues coming in starting in 2018 than is required to pay benefits, the money has to come from someplace. So we will come up with the money and pay back everything we owe the trust fund and then benefits are going to be cut 30 percent, and then, a few years later, 65 percent. That is not acceptable. The longer we put off a decision, the more drastic the changes are going to have to be made. Let me suggest that nobody is suggesting privatizing Social Security.”