Charles W. Stenholm: “I start again referring to our grandchildren. 2011 is when the baby boomers begin to retire. Everyone knows there is no…”

“I start again referring to our grandchildren. 2011 is when the baby boomers begin to retire. Everyone knows there is no disputing that the economic pressures on this country in 2011 and 2012, when the baby boomers begin to retire and begin to draw their Social Security and begin to qualify for Medicare, the pressures on this country are going to be tremendous. That is why we think balancing the budget before we get there so that there will be the money in order to pay off the obligations to those which have been promised under current Social Security law. So first off to those intending to retire in 2011, it is in their best self-interest that we honor the pledges that were made to them. Then we back off to the grandchildren, and of course they are not old enough to answer this question. They are not old enough to wonder. My two grandsons right now, seven and five, they would not have a clue what I am talking about right now. But the young working men and women just graduating from high school, going on to college, just graduating from college, about to get a job, they understand. They already know that they wish that Congress would make the changes today in the Social Security system so they might have something that is not just promised but that can be reality. If we do not deal with the fiscal problems of this country today, they will not be able to get that which they are promised to receive. What does it mean to the average family having dinner tonight?”