[Congressional Record Volume 145, Number 23 (Tuesday, February 9, 1999)]
[Extensions of Remarks]
[Pages E165-E166]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                  SOCIAL SECURITY GUARANTEE INITIATIVE

                                 ______
                                 

                             HON. PAUL RYAN

                              of wisconsin

                    in the house of representatives

                       Tuesday, February 9, 1999

  Mr. RYAN of Wisconsin. Mr. Speaker, today I have introduced the 
Social Security Guarantee Initiative. This legislation would express 
Congress' commitment to protecting all Social Security benefits to 
current and soon-to-be retirees.
  Last week, Congress received the President's budget request for next 
year. A major priority for this Congress and for this President is the 
need to save Social Security for present and future generations. 
Several proposals have been brought forward and will be debated 
extensively this session of Congress. The President has proposed 
investing some of the payroll tax revenues in the stock market. The 
problem is, the President wants a Washington-based government board to 
decide which stocks to buy and in which companies the government might 
take a share.
  A better idea would be to allow individuals and families to make 
those decisions. A government board will inevitably be influenced by 
politics. Mixing politics with Americans' retirement could have 
disastrous consequences.
  In all of this discussion, however, to reform Social Security, many 
seniors in Wisconsin and throughout the country have expressed their 
concerns that any reforms would ultimately end up costing them 
something. While we must improve the system for working Americans, the 
benefits today's senior have come to count on cannot and will not be 
changed in any way. As we move forward to reform Social Security, I 
believe we must send a bipartisan message to our nation's seniors that, 
while we must fix Social Security for future generations, current and 
imminent retirees will be held harmless.
  The Social Security Guarantee Initiative would protect all guaranteed 
benefits for current retirees and those nearing retirement. We have a 
historic opportunity to preserve the nation's Social Security program. 
I look forward

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to working with the senior community in my District and my colleagues 
in Congress on this important issue.

                          ____________________