[Weekly Compilation of Presidential Documents Volume 34, Number 50 (Monday, December 14, 1998)]
[Pages 2441-2444]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Remarks to the White House Conference on Social Security

December 8, 1998

    Good morning, ladies and gentlemen. Let me begin by welcoming all of 
you and acknowledging Senators Daschle and Santorum, Congressman 
Gephardt and Congressman Shaw, who will speak, and the very, very large 
delegation we have from the United States Congress, Members of both 
parties right out here to my left. I thank you all for coming.
    I think the fact that we have such a large representation from the 
Congress, as well as leaders of various organizations of people 
throughout the United States and people

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concerned about the Social Security issue, is a testament to the 
profound importance of this issue and the commitment of the American 
people to do something about it.
    I thank Secretary Rubin, Secretary Herman, Secretary Daley, and Gene 
Sperling, Jack Lew, Ken Apfel, and John Podesta, representing the 
administration, for their presence here.
    This is the first-ever White House Conference on Social Security. 
There are all of you here in Washington, plus thousands of people 
watching at 60 satellite sites in all 50 States.
    I'd also like to apologize for my early departure. I had hoped to be 
here for as much of this conference as I could, but, as all of you know, 
there is a service in Tennessee today for the father of our Vice 
President, former United States Senator Albert Gore, Sr., who was a 
true, great public servant. He and his generation built the entire 
postwar order from Medicare to the interstate highway system, both of 
which he himself had a personal role in creating. They were civic 
institutions that have helped save our Nation and our world in the half-
century since.
    Now it is our turn to be builders, to renew the institutions that 
have made America strong. In this time, America faces no more important 
challenge than the need to save Social Security for the 21st century. 
Social Security is and must remain a rock-solid guarantee. It is a 
sacred trust among the generations, between parents and children, 
grandparents and grandchildren; between those in retirement and those at 
work, between the able-bodied and the disabled. It embodies our 
obligations to one another and our deepest values as Americans.
    This year, I and a lot of people in this room, a lot of Members of 
the Congress, have spent a lot of time listening to the American people 
and speaking with them about Social Security. This White House 
conference, a gathering of lawmakers, experts, Americans from all walks 
of life, marks an important step in the direction of saving Social 
Security for the 21st century.
    We'll hear a lot of ideas expressed about what course we should 
take. Let me shock you by saying I think there will be some differences 
of opinion expressed in this room. But we should begin this process on 
common ground, agreeing above all on the importance of acting and acting 
now, while we can, during prosperous and productive times that Americans 
have worked so hard to achieve.
    Our economy is indeed a powerful engine of prosperity. In its wide 
wake, it creates something every bit as important as jobs and growth: 
The opportunity to do something meaningful for America's future and the 
confidence that we can actually do it, an opportunity to save Social 
Security for the 21st century. I hope history will record that we seized 
this opportunity.
    Earlier this year I said we should reserve any surplus until we save 
Social Security first. We have done so. We should take the next step and 
act now. It is more than an opportunity; it is a solemn responsibility--
to take the achievement of past generations, the Americans who, 
according to President Roosevelt, had a rendezvous with destiny, and to 
renew the social contract for a new era.
    Through war and peace, from recession to expansion, our Nation has 
fulfilled its obligation to older Americans. It is hard, thankfully, to 
remember the time when growing old often meant growing poor. It seems 
impossible to believe, but in many cases, retirement meant being 
relegated to a rest home and the degradation of dependence. The normal 
aches and pains of aging were accompanied by the unbearable pain of 
becoming a burden to one's children.
    That's why Social Security continues to offer much hope, much 
confidence, much peace of mind. It is one of the most important and 
ambitious undertakings in our Nation's entire lifetime.
    President Roosevelt said there is no tragedy in growing old, but 
there is tragedy in growing old without means of support. Soon we will 
face a rising challenge in providing that support, as every one of you 
knows. Before too long, there will only be about two people working for 
every one person eligible to draw Social Security. As our panelists will 
discuss, we are actually going to have many, many older Americans.
    Just last night Hillary and I were discussing a recent health report 
that infant mortality last year dropped to an all-time low, and the life 
expectancy of Americans rose to an all-

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time high, over 76 years. Some would argue that this problem we have 
with Social Security is, therefore, a high-class problem. I know that 
the older I get, the more high-class the problem looks to me.
    It is, nonetheless, a significant challenge: 75 million baby boomers 
retiring during the next two decades. By 2013, what Social Security 
takes in will no longer be enough to fund what it pays out. That's just 
15 years away. Then we'll have to use the proceeds from the Trust Fund. 
By 2032, just 34 years away, the money Social Security takes in will 
only be enough to pay 72 percent of benefits.
    Now, there are many ways to deal with this, but there is only one 
way to get it done. Let me say to all the people on all sides of this 
debate, the only way we can save Social Security and avoid what I think 
is a result that none of us want, which is either a dramatic cut in the 
standard of living of retirees in America, a dramatic increase in the 
taxes on working Americans and the lowering of the standard of living of 
the children and grandchildren of the baby boomers--the only way we can 
avoid that is by working together, putting progress ahead of 
partisanship, placing the long-term interest of the Nation first.
    Already, some are predicting that we are simply incapable of doing 
this in Washington. I am determined to prove them wrong. I hope everyone 
of you are determined to do so as well.
    What does this mean? It means, first of all, not that we should 
forget about what we think is right. It means each of us should 
articulate what we think is right, and those who believe they disagree 
should listen to them. We should all listen to people who have different 
opinions; they might be right, and we might be wrong.
    Secondly, it means that our differences cannot take the form of 
personal attacks. This is a complex issue, and I have found that on this 
issue most people believe what they really believe--we do not need to 
let our differences disintegrate into personal attacks.
    Third, in the end, all of us in some sense will have to sacrifice 
our sense of the perfect to work together for the common good. There is 
in this process no room for rancor. The stakes are too high; the issues 
far too important. It's not about politics; it's about doing right by 
young Americans and older Americans and the future of America.
    The whole point of this conference is to open honest debate and to 
build consensus, not to shoot down ideas or insist that one side or the 
other has to go first. Secretary Riley, our Secretary of Education, said 
that one of his greatest lessons from South Carolina politics was the 
old saying that I'm for change, and you are, too; you go first. 
[Laughter]
    I'm prepared to do whatever it takes to move us forward, but let's 
agree we have to march together. That's the only path to the finish 
line. Our ears, our minds must remain open to any good idea and to any 
person of good will.
    In judging any proposal, I believe we should be guided by five 
principles. First, as I have said, we must strengthen and protect the 
guarantee of Social Security for the 21st century. Second, we must 
maintain universality and fairness. Later, panelists will discuss the 
impact of reform on different groups. The First Lady was scheduled to 
discuss the special impact on women, who on average live longer than 
men, so depend on Social Security more.
    Now, keep in mind that only 4.6 percent of elderly married women are 
living in poverty. For elderly single women, the number is about 20 
percent. Those who think we can wait should never forget that fact 
either. When we judge our plan to save Social Security, we need to ask 
whether it cuts the poverty rate among single elderly women and other 
groups in our population that are still at significant risk.
    I must say, I have been quite impressed that proposals that span the 
conventional ideological spectrum have shown a sensitivity to this and 
to taking vulnerable people out of poverty and giving them the secure 
retirement they deserve.
    Third, I believe we must construct a system where Social Security 
can be counted on regardless of the ups and downs of the economy or the 
markets.
    Fourth, Social Security must continue to provide financial security 
for disabled and low income beneficiaries. One in three Social

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Security beneficiaries are not retirees, and we must never forget that.

    And fifth, any proposal must maintain our hard-won fiscal 
discipline. It has helped to fuel the prosperity Americans enjoy today. 
That is, after all, what gives us the chance to do this in at least a 
less painful manner.

    I look forward to transforming these ideas into action. Let us begin 
firm in our faith that Social Security can bind our people not only 
across generational divides but across party lines.

    Let me say, too, in that regard, I am grateful for the presence here 
of Senator Santorum and Congressman Shaw from the Republican majority, 
and the minority leaders, Senator Daschle, and Congressman Gephardt. I 
thank you very much for your presence here. And now I'd like to turn it 
over to them to make some opening remarks so we can get on with the work 
of this conference.

    Let me say this before I sit down. You have to decide that we are 
going to do this. You have to tell these Members of Congress that you 
will support them if they act. If you come here representing a 
particular point of view and you know these Members of Congress agree 
with you, you should ask them to defend your point of view, but to be 
willing in the end to make a decision that will deal with the problem. 
This will only get harder, every single year we avoid resolving this, it 
will get harder and harder and harder. And everybody's favorite idea 
will have a less beneficial impact the longer we wait. Now is the time 
to do this.

    Thank you very much.

 Note: The President spoke at 8:50 a.m. in the Cotillion Ballroom at the 
Marriott Wardman Park Hotel.