Political Quotes

“I am proud to be its cosponsor, and I think that as we enact this bill, we will be making a very positive contribution to what truly is one of our growing national matters of urgency: Retirement savings. We have to save more. Our savings rate is one-half of what it was in the post-World War II through 1980 period of time. If we think about the worker to retiree ratio, 42 workers per Social Security retiree in the 1940s, heading to 3 workers per retiree in 20 years, 2 workers per retiree in 30 years. It is just so clear, we have to save more. Add in longevity. Unlike the 1930s, when Social Security came on line, now workers live, on average, 17 years longer in retirement than they did at that time. We will not be able to publicly fund our way out of this one. It is going to require a significant measure of personal responsibility for us all, and that is why this bill is so important.”