Political Quotes

“they are having a real problem with railroad retirement, but almost every corporation and company that is in the United States, as people live longer, as our medical technology allows them to live longer, we end up having problems, whether it is Social Security or other pension plans. To say that the Federal Government should bail out this private pension plan I think is probably an unfair imposition on the rest of our taxpayers and on the Social Security system. Now, Social Security right now has three workers, we are down to three workers, for every one retiree. Thirty years ago we had 30 workers financing every one retiree. Today there are three workers financing Social Security. Guess what it is in the railroad system? There is one worker trying to fund three railroad retirees, one worker in railroad trying to fund three retirees. Mr. Speaker, that is a huge burden, but, still, they have to run their own pension system. They cannot keep coming back to government. Again, $4 billion every year that they pay out in benefits more than they withhold in their taxes.”