    [Public Papers of the Presidents of the United States: George W. Bush (2005, Book I)]
    [June 11, 2005]
    [Pages 973-974]
    [From the U.S. Government Publishing Office www.gpo.gov]

    The President's Radio Address
    June 11, 2005

        Good morning. As we enter the summer season, my administration is
    working hard to keep our economy growing and creating jobs. Next week, I
    will talk about some of my plans to help American families achieve long-
    term economic security.
        On Tuesday, I will discuss Social Security reform with young people
    in Pennsylvania. I will remind them that the Social Security system is
    in good shape for their grandparents and for anybody born prior to 1950.
    I will also tell them that we must act now to strengthen and modernize
    Social Security so these young people can have a secure retirement. Our
    young people understand that if we fail to act, Social Security will not
    be sound when they need it. They know that the millions of baby boomers
    about to retire will live longer and collect benefits that the system
    cannot afford.
        As we make Social Security permanently sustainable, we must also
    make it a better deal for younger workers, by allowing them to set aside
    a portion of their payroll taxes in voluntary personal savings accounts.
    These accounts would provide the opportunity to earn a higher rate of
    return than the current system can offer. Personal accounts would
    contribute to the economic security of Americans by allowing them to
    build up a real nest egg, something they own and can pass on to their
    spouse or children, and that Government cannot take away.
        On Wednesday, I will address the Energy Efficiency Forum here in
    Washington and renew my call for Congress to act on the energy plan I
    proposed 4 years ago. Today's high energy prices are like a tax that
    drags on our economy. We must ensure that American families and small
    businesses have access to a reliable supply of affordable energy. My
    energy strategy will lessen our dependence on foreign oil by encouraging
    conservation, promoting domestic production in environmentally friendly
    ways, and funding promising new sources of energy such as hydrogen,
    ethanol, and biodiesel. It will also modernize our aging electricity
    grid.

        The House has passed a good energy bill. Now, the American people
    expect the Senate to act. For the sake of our economic and national
    security, Congress needs to get a good energy bill to my desk by August.

        On Thursday and Friday, I will discuss a key element of ensuring
    health care security for our Nation's seniors. The Medicare
    modernization bill I signed into law in 2003 created a new prescription
    drug benefit, so our seniors could have more choices and receive the
    affordable modern health care they deserve. This voluntary benefit
    begins next January, and seniors will be eligible to enroll starting
    this November. The plan will provide many options for dependable
    prescription drug coverage through Medicare. During the coming months,
    we will work to educate all of our seniors about this new benefit, so
    they can choose confidently the drug plan that best meets their needs.

        Finally, to ensure economic security for all Americans, Congress
    needs to keep your taxes low and be wise with taxpayers' dollars. I
    proposed and the House and Senate passed a responsible budget resolution
    that meets our priorities and keeps us on track

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    to cut the deficit in half by 2009. The weeks ahead will bring important
    decisions on Government spending including the highway bill. Congress
    needs to soon send me a fiscally responsible highway bill that
    modernizes our roads and bridges and improves safety and creates jobs.
        Achieving economic security for all Americans requires us to
    confront challenges now, not pass them on to future generations. In the
    coming weeks, I will work with Congress on all these priorities so we
    can strengthen our Nation's prosperity for generations to come.
        Thank you for listening.

    Note: The address was recorded at 7:50 a.m. on June 10 in the Cabinet
    Room at the White House for broadcast at 10:06 a.m. on June 11. The
    transcript was made available by the Office of the Press Secretary on
    June 10 but was embargoed for release until the broadcast. The Office of
    the Press Secretary also released a Spanish language transcript of this
    address.