[Congressional Record (Bound Edition), Volume 146 (2000), Part 17]
[House]
[Page 24294]
[From the U.S. Government Publishing Office, www.gpo.gov]



                         SAVING SOCIAL SECURITY

  (Mr. STEARNS asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. STEARNS. Mr. Speaker, Republicans will honor and strengthen 
Social Security. We will protect all benefits for today's seniors and 
ensure that Social Security is available for their grandchildren.
  The administration has done nothing to save Social Security in the 
last 8 years even though the massive baby boom generation will begin 
drawing benefits 8 years from now.
  When Social Security first started, there were 42 workers to support 
each retiree. In a few decades, there will be only two workers per 
retiree. As a result, Social Security benefits will exceed 
contributions beginning in the year 2015 and the system will go 
bankrupt in the year 2037.
  The Vice President touts his plan for Social Security, but his plan 
would do nothing to improve the program's long-term solvency and will 
lead to higher taxes or cuts in benefits. In fact, the Vice President's 
plan would leave the basic structure of Social Security untouched, 
essentially gambling that future generations would be able to pay the 
bills when the baby boom generation begins to retire in full force. 
This is not good. Help is on the way with a Republican White House and 
a Republican Congress.

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