On the recordJanuary 22, 2001
So we really do have a real choice here. And the choice is between preparing for what we know is to come, preparing for the demographic cliff we are going to fall off, which is the baby boom generation, where we are going to go right now from 3 o 1/2 workers for every retiree to 2 workers for every retiree, we can prepare for that, allowing for a voluntary contribution for existing workers, allowing them to put money aside to be able to invest that money and grow that money and use it to help pay their benefits, or we can sit back and wait. I think it would be unconscionable in a time of record prosperity and in a time when I think most people would argue there is no great pressing issue facing the American public, that we can't look forward and say we know there is a problem out there, and it is a major problem. It is not a little problem; it is a big problem. We can't just look forward a few years. We can prevent a big problem right now by just a little courage and a little consensus. So I am hopeful.…
Source
govinfo.gov




