Pete Domenici: “I rise in support of the Roth amendment. Clearly, there is a long way to go before we have rendered Social Security…”

“I rise in support of the Roth amendment. Clearly, there is a long way to go before we have rendered Social Security solvent way into the next century. But it is even more obvious that this is the era when part of what a citizen who is working should have for retirement should be a personalized savings account or an annuity that comes from that personalized savings account. There can be no doubt that it can be structured in such a way that it will turn out to be better for the senior citizen. They will be assured of the benefits that they are getting now and, in most cases, will come out far, far ahead. In the meantime, if it works right, the surpluses of the U.S. Government, if used partially for this, will be invested in a safe way, not solely in IOU's from the Federal Government, which is where they go now, which is the law now; rather, they will be invested where they can, without much risk, yield significantly more and, when compounded, the power of compounding is enormous.”