Lloyd Bentsen: “I have no particular problem with the creation of a another commission to study the needs of the Social Security…”

“I have no particular problem with the creation of a another commission to study the needs of the Social Security program, so long as it is balanced and without agendas other than the true need to preserve the safety net for America's workers. But equally important is that we begin this debate with a clear understanding of what Social Security is and why it was created before we begin proposing radical solutions. And also we must be careful not to confuse the issues while trying to solve the problem. First and foremost, we must remember that Social Security is a safety net below which no American will fall. It is a retirement security program, it is a disability insurance program, and it is a survivor insurance program. It is not a 401(k) or an individual retirement account. Any reform must not destroy the safety net or it will destroy the essence of the program. Second, we must not confuse solvency with return on investment. The foremost issue is the preservation of the existing Social Security system through and beyond the baby boom retirement period.”