Rod Grams: “I want to take time this morning to talk about one of the most important issues I think is facing American society…”

“I want to take time this morning to talk about one of the most important issues I think is facing American society today; that is, the future of the retirement system in this country--not only for those who are on Social Security today or for those who are going to be on Social Security very soon, but basically to look down the road to our children and our grandchildren at what kind of Social Security or a retirement system we are going to leave the next generation. I think that is very important. I am very pleased this morning that President Clinton has finally accepted the Republican Social Security lockbox which would lock in every penny of the Social Security surplus, not for tax relief and not for Government spending but for the retirement program of millions of Americans. However, what most concerns me is that the President appears to be abandoning his ``Save Social Security First'' pledge. It was one thing to lock in Social Security surpluses last year and in the future and to further attempt to devote interest savings on a lower public debt to Social Security, but that alone will not save Social Security because we have spent too many years of the Social Security surplus prior to the year 2000. The President's budget does not address the future solvency of Social Security to ensure retirement benefits will be there for the baby boomers and also future generations.”