Mark Neumann: “They are paying it with IOU's, exactly right. This really becomes important if I can just go to why this is important…”

“They are paying it with IOU's, exactly right. This really becomes important if I can just go to why this is important not only to senior citizens, but it is important to people in their 50's and in their 40's and it is important to our young people, too, because in 2012, the Government tells us, in my opinion it could happen as soon as 2005, there will not be enough money coming in to pay the benefits back out to our senior citizens, and of course that is when we need the savings account. Now if the savings account is full of IOU's in 2005, or 2012 in the best case scenario, if there is nothing there in that savings account and we have reached the point where there is not enough coming in, there are really only two choices, and this is why it affects everyone. The choices are either to tell the seniors that they cannot have as much as they were expecting from Social Security. From what I have seen of Washington, DC, that is absolutely not going to happen nor should it happen. The other alternative is to go to people like my son, a sophomore in college, and other kids like him, who are in those years, 8, 9, 10 years from now, are going to be married and have their own kids and forming their own families and working hard to make a living for themselves, we are going to have to go to those young people and say there is not enough money coming in for Social Security.”