[Weekly Compilation of Presidential Documents Volume 39, Number 12 (Monday, March 24, 2003)]
[Pages 337-338]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
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

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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.