Joe Pitts: “Social Security was created many years ago, back in the days when perjury was considered a crime. It helped bring peace…”

“Social Security was created many years ago, back in the days when perjury was considered a crime. It helped bring peace of mind to millions of Americans who feared destitution or disability in their retirement years. Now, Social Security is running headlong into fiscal reality that no amount of spin or denial or rhetoric will change. If reforms are not made, the system will renege on its promises within a generation. The President himself has acknowledged this reality. However, his proposal, announced in the State of the Union speech, has a few major problems, problems so big that Federal Reserve Chairman Alan Greenspan has spoken out against them. One problem is slick accounting. It just does not add up. The other major problem is the dangerous idea of making Uncle Sam the largest investor in Wall Street, a huge windfall for lobbyists but a deadly strike against retirement security for seniors. We must work together, Republicans and Democrats, to save and strengthen Social Security for current and future generations.”