[Congressional Record (Bound Edition), Volume 153 (2007), Part 18]
[Extensions of Remarks]
[Pages 25710-25711]
[From the U.S. Government Publishing Office, www.gpo.gov]




                  COOPER-WOLF: THE SAFE COMMISSION ACT

                                 ______
                                 

                           HON. FRANK R. WOLF

                              of virginia

                    in the house of representatives

                     Wednesday, September 26, 2007

  Mr. WOLF. Madam Speaker, I am deeply concerned about the financial 
future of our Nation. Yesterday, Representative Jim Cooper and I 
introduced the SAFE Commission Act, H.R. 3654, legislation that would 
establish a bipartisan commission to review Federal spending. 
Everything would be on the table--entitlements and tax policies--
mandating Congress to vote up or down based on the commission's 
findings. Democrats and Republicans must work together to ensure that 
our country regains sound financial footing. I insert for the Record my 
statement from the press conference introducing the SAFE Commission 
Act.

       Thank you for being here today. I am hopeful that by 
     joining efforts with Jim Cooper, our colleagues in the House 
     and Senate will embrace this bipartisan commission that can 
     put our country on sound financial footing.
       I also want to thank you, David Walker, for your vision and 
     your courage in laying the groundwork for the legislation we 
     offer today.
       David and the others participating in the Fiscal Wake-up 
     Tour--the Heritage Foundation, Brookings Institution, Concord 
     Coalition, Committee for a Responsible Federal Budget--have 
     been crisscrossing America from San Francisco to Cincinnati, 
     from Tampa to Buffalo--laying out the facts about the future 
     financial condition of our country, discussing possible 
     options and preparing the way for tough choices that those of 
     us in Congress are going to have to make.
       When you look at this tour ensemble, you see groups who 
     usually disagree more than they agree on policy issues. That 
     makes it even more extraordinary that they all agree that we 
     need to sit down and work together to make sure our country 
     doesn't fall into a financial canyon that we can never climb 
     out of. That's the message that is resonating with folks who 
     hear them--the need to come together and work to find 
     bipartisan answers to ensure a secure financial future for 
     America.
       What the tour has told us, too, is that we shouldn't 
     underestimate the willingness and ability of the American 
     people to hear the truth and support the decisions necessary 
     to change our financial course.
       We owe it to our children and grandchildren to start the 
     process today. We cannot continue to avoid our responsibility 
     to future generations of Americans by passing on a broken 
     system in the form of unfunded Social Security and Medicare 
     and obligations and unsustainable spending. We cannot 
     continue to keep borrowing and mortgaging

[[Page 25711]]

     our future to countries like China and Saudi Arabia that 
     carry obscene amounts of our debt.
       But the question is asked, why the SAFE Commission? If this 
     is such a critical issue, shouldn't Congress deal with it?
       Yes, it is a critical issue--maybe the most important one 
     facing our country. And yes, it is the responsibility of 
     elected officials to act.
       Our financial issues are real. Our economic growth will 
     come to a grinding halt, our standard of living and even our 
     national security will be at risk if we don't start actively 
     working to change our current course.
       But I'm going to be candid--Congress on its own can't get 
     it done in the politically charged atmosphere in Washington 
     today. I describe Congress today as dysfunctional. The latest 
     public opinion polls perhaps validate my assessment.
       The American people expect us to put our partisan 
     differences aside and work together to get things done. We 
     must move beyond the politics and come to grips with the fact 
     that the financial future of our country is an American 
     issue. It's not red or blue or Republican or Democrat.
       Under the SAFE Commission process, Congress is the ultimate 
     decision-maker.
       But it will be the SAFE Commission, after holding hearings 
     across the country, listening to the American people, and 
     putting everything on the table for discussion--entitlements 
     and tax policies--which will send its recommendations to 
     Congress for a mandatory up-or-down vote like the BRAC (The 
     Base Closing Commission) process to decide what military 
     bases to keep open or close.
       Congress will be part of the SAFE process--has a place at 
     the table. We even hold out hope that Congress could find its 
     way and act on its own. First, at least four of the 14 
     congressionally appointed commission members must be sitting 
     Members of Congress. Second, if Congress enacts significant 
     legislation aimed at addressing this looming crisis, the SAFE 
     Commission would terminate and cease to exist. We hope this 
     happens, but, I doubt it will.
       Abraham Lincoln once said, ``You cannot escape the 
     responsibility of tomorrow by evading it today.'' I believe 
     there is a moral component to this issue that goes to the 
     heart of who we are as Americans. By that I mean, I wonder if 
     we have lost the national will to make tough decisions that 
     may require sacrifice?
       The SAFE Commission offers us the opportunity to find our 
     way forward to protect the future of our country.
       My youngest grandchild is just over a year old. By the time 
     he is 15 years old, 29 cents out of every dollar paid in 
     income taxes will be required to cover the needs of Social 
     Security and Medicare to pay for my retirement.
       By the time he completes his undergraduate degree, more 
     than 45 cents out of every dollar of income taxes then will 
     be needed to cover the shortfall of Social Security and 
     Medicare. That will rise to 62 cents out of every dollar if 
     he decides to get his doctorate 10 years later.
       Sadly, before he retires--and looks into the eyes of his 
     own grandchildren--retired baby boomers will be consuming 88 
     percent of every income tax dollar. With the baby boomers 
     consuming so much, there will be little money left to meet 
     the needs and challenges of future generations--for instance 
     ensuring that our highways and bridges are safe, that there 
     is money for cancer research and to solve the riddles of 
     Parkinson's and Alzheimer's, that we can take care of our 
     veterans, that we have the resources to ensure our schools 
     are the best in the world so our children and grandchildren 
     get the necessary tools, particularly in math and science, to 
     compete in the world marketplace.
       Is it right for one generation to live very well knowing 
     that its debts will be left to be paid for by their children 
     and grandchildren?
       I'm challenging our colleagues today to come together--to 
     know that while you served in Congress you did everything in 
     your power to provide the kind of security and way of life 
     for your children and grandchildren that your parents and 
     grandparents worked so hard to provide for you.
       The challenge, too, goes out to the leadership in Congress 
     and the administration to make this a truly bipartisan effort 
     and put the SAFE Commission on the fast track to enactment.

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