    [Public Papers of the Presidents of the United States: George W. Bush (2003, Book I)]
    [March 17, 2003]
    [Page 276]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Statement on the 2003 Report of the Social Security Trustees
    March 17, 2003

        I commend the Social Security Board of Trustees for their hard work
    on their annual report.
        As in last year's report, the Trustees confirmed that benefits for
    today's seniors are safe and secure. Promises made can and will be kept.
    The Trustees also once again have delivered a sobering message--Social
    Security, in its present form, is unsustainable for the long term. I
    share the Trustees' view that we need to explore new ways to ensure that
    Social Security remains strong and financially secure for America's
    children and grandchildren.
        I am encouraged by the unprecedented level of bipartisan interest in
    Social Security modernization. Many comprehensive proposals have been
    put forward to strengthen Social Security for the long term. Although
    these proposals differ in details, they are consistent in showing that
    if we give workers the opportunity to invest a portion of their wages in
    personal accounts, Social Security will be able to offer higher benefits
    than would otherwise be the case.
        To repeat what I told Congress in the State of the Union Address
    this year: ``As we continue to work together to keep Social Security
    strong and reliable, we must offer younger workers a chance to invest in
    retirement accounts that they will control and they will own.''
        Social Security protects beneficiaries with disabilities, retirees,
    widows, and widowers. It also affects the lives of millions of taxpaying
    workers, the beneficiaries of tomorrow. As the report makes clear,
    Social Security faces long-term problems that demand bipartisan
    solutions.
        I hope that Members of Congress will join with the Social Security
    Administration and other interested parties in a national dialog about
    how best to strengthen and protect Social Security. I look forward to
    working with Congress to see that Social Security remains sound and
    strong for today's and tomorrow's retirees.