[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.