Political Quotes

“I rise in support of the CATs budget for many reasons, but in particular I would like to emphasize the principal statement that this budget makes regarding true, meaningful Social Security reform by acknowledging the need to create personal savings accounts. What we are talking about in this budget is first of all that the CATs budget sets aside every penny of Social Security surplus dollars for Social Security, not to be spent on other programs. We do that because we recognize we have got a sacred obligation to honor the promise we have made to senior citizens, those who are at or near retirement. They need to have this program ensured for their benefit. But we also acknowledge that that alone does not solve the problems facing our Social Security system. But one way to solve that problem is to allow younger workers the opportunity to take a portion of the payroll tax they already pay and put that into accounts that they would own and control. They could invest and that savings would grow and provide the basis for their future benefits and their retirement, giving them more security and a better retirement than the current system promises and cannot deliver. This would be a permanent solution to the unfunded liability problem of Social Security. It would grant unprecedented freedom to working people who currently do not have the opportunity to make this kind of savings because the payroll tax takes it away from them. We know this will cost money.…”