[Congressional Record (Bound Edition), Volume 145 (1999), Part 3]
[House]
[Pages 3247-3248]
[From the U.S. Government Publishing Office, www.gpo.gov]




                      KEEP SOCIAL SECURITY SOLVENT

  (Mr. BALLENGER asked and was given permission to address the House 
for 1 minute.)
  Mr. BALLENGER. Mr. Speaker, I would like to challenge the other side 
to a pledge, a pledge that has been notably absent from the proposals 
of the other side of the aisle.
  The Republican plan to protect and strengthen Social Security does 
not raise taxes, and it does not reduce benefits. The President's plan, 
however, leaves that option wide open. It would not take a rocket 
scientist or a fortune teller to figure out what that means.
  The key issues for the current and future retirees is, will my 
retirement be secure and will Social Security remain a good deal? 
Social Security, unless dramatically reformed, fails on the first 
question.
  As for the second, Social Security is a good deal for current 
retirees; but,

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very soon, it will be a terrible deal for future retirees.
  The President's proposal does nothing about that. A worker's return 
on investment will continue to head down if real structural reforms are 
not made.
  Let us keep Social Security solvent and a good deal for workers when 
they retire.

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