    [Public Papers of the Presidents of the United States: George H. W. Bush (1991, Book I)]
    [April 23, 1991]
    [Page 417]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Letter to Congressional Leaders on Social Security
    April 23, 1991

    Dear Bob:  (Dear George:)
        Six months ago, the Administration and a bipartisan majority in the
    Congress agreed to separate Social Security from the Federal budget. The
    advocates of this action argued that this separation was necessary to
    help protect Social Security. To this end, we also agreed to implement a
    ``firewall'' procedure requiring a super-majority vote in the Senate to
    protect against efforts to deplete the Social Security trust fund
    balances.
        It now appears that there is a Senate loophole in those procedures.
    It was slipped into last year's budget legislation without the knowledge
    or approval of many of those who participated in the budget summit.
    Recently, you and Senator Domenici introduced legislation to repair the
    Social Security ``firewall.'' I support this legislation and urge the
    Senate to adopt it immediately.
        It is my understanding that some may attempt to exploit this
    loophole during Senate consideration of the Congressional Budget
    Resolution. They may propose an amendment to clear the way for
    legislation to weaken the Social Security system. Senator Moynihan's
    proposal, for example, would return Social Security to the same
    financing scheme that drove the system to the brink of insolvency in
    1982. His proposal would drain roughly $23 billion from Social Security
    trust fund reserves in 1992 and $170 billion by the end of 1996. Under
    pessimistic economic assumptions, adoption of this legislation could
    again threaten to bankrupt the Social Security system.
        We rescued the Social Security system eight years ago on a
    bipartisan basis. When we did, we made a promise to every American who
    receives Social Security benefits, to those who support the system
    today, and to those who will rely on it when they retire. We have worked
    together to assure that today's benefits are protected and that the
    system will be strong enough to continue providing benefits to future
    retirees. I intend to assure that we keep our promise.
        Sincerely,

                                                                 George Bush

                        Note: Identical letters were sent to George J.
                            Mitchell, Senate majority leader, and Robert
                            Dole, Senate Republican leader.