Louie Gohmert: “I came across some information that had been talked about in a local newspaper, The Examiner, a new paper, and did some…”

“I came across some information that had been talked about in a local newspaper, The Examiner, a new paper, and did some digging. And it is indeed my pleasure in a bipartisan spirit to call attention to statements made or endorsed by certain Senators, including some prominent Democratic Senators who, in 2001, found that Social Security simply was not as efficient as a system that allowed workers to invest their own retirement funds in a personalized retirement account. Privatization is not a good idea; we are not for that. However, allowing young workers to personalize their retirement by taking a part of their retirement funds and placing them in a personal Social Security savings account that the individual actually owns is a good idea. And we are open to discussion on that. I am proud to be a part of looking at that. Such accounts currently are in place for State and local retirees, and they are performing at least 200 to 300 percent higher than Social Security. What a great thing, to provide individuals with a decent retirement while preserving Social Security for those that are on it and for those that are over 55 years of age. Such an account could actually be owned by the worker and not by the government.”