Tim Ryan: “But the massive figure is $5 trillion over the next 20 years. Now…”

On the recordMarch 1, 2005

But the massive figure is $5 trillion over the next 20 years. Now, that is $5 trillion we have to go out and borrow and pay interest on, which I think is probably the best argument for not doing this. We should not implement a program that is going to strap our generation with massive tax increases to pay for this, the $5 trillion, the interest on the $5 trillion, and then end up with a benefit that is not guaranteed. I think when you add all that together, it is a recipe for disaster.

Said by

Tim Ryan

Democratic · Ohio

Source

govinfo.gov

Editor's note · Context

Discussing the financial implications of proposed changes to the Social Security system.

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Tim Ryan: “But the massive figure is $5 trillion over the next 20 years. Now, that is $5 trillion we have to go out and borrow and…”

Editor's note · Context