[Congressional Record (Bound Edition), Volume 147 (2001), Part 19]
[Extensions of Remarks]
[Page 26209]
[From the U.S. Government Publishing Office, www.gpo.gov]



             KEEPING THE SOCIAL SECURITY PROMISE INITIATIVE

                                 ______
                                 

                               speech of

                        HON. CHARLES W. STENHOLM

                                of texas

                    in the house of representatives

                       Tuesday, December 11, 2001

  Mr. STENHOLM. Mr. Speaker, I rise in strong disappointment with the 
rhetoric coming from both sides of the aisle on this resolution. We do 
a disservice to our constituents and to future generations when we bury 
our heads in the sand and ignore the very real financial challenges 
facing the Social Security system.
  Everyone who has examined the financial outlook of the Social 
Security system understands that we need to take action to make sure 
that Social Security remains strong for future generations. The 
Commission to Strengthen Social Security is to be commended for 
presenting proposals which deal with the financial deficits facing the 
Social Security system in a responsible and forthright manner.
  Those who cry foul on the Commission's recommendations have a moral 
obligation to tell the American people how they would address these 
challenges. While it is easy to criticize those who try to deal with 
this issue, it is far more difficult to put together a plan that can 
hold up under a thorough actuarial and budgetary analysis. I would say 
to my colleagues who have come to the floor to criticize the efforts of 
the Commission that I look forward to seeing your plan to strengthen 
Social Security.
  There is no way to eliminate the $20 trillion unfunded liability 
facing Social Security without making some tough choices somewhere. 
Folks who insist that we must preserve benefits exactly as promised 
under current law must explain where the money will come from to fund 
these promises.
  We can either make some tough choices today to honestly deal with the 
challenges facing Social Security or we can leave a fiscal time bomb 
for our children and grandchildren. I, for one, do not want my 
grandchildren to look back sixty-five years from now and say that if 
only our granddad had done what he knew in his heart had to be done 
when he had the chance, we wouldn't be in the mess we are in today.

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