A Statement by Senator Mark Pryor on Alan Greenspan's Social Security Comments

A Statement by Senator Mark Pryor on Alan Greenspan's Social Security Comments

While I respect Federal Reserve Chairman Alan Greenspan and believe that he has given Congress much sage advice over the years, I disagree with his statement that Congress should look at cutting Social Security and Medicare benefits for millions of Americans.

As Mr. Greenspan eluded, under the Bush Administration our country has been heading down the wrong fiscal path - rapidly incurring debt and creating budget deficits that have crowded out our national priorities. However, Mr. Greenspan's comments fail to acknowledge that only four short years ago our government projected a $5.6 trillion surplus and we were on our way to paying off the national debt and saving Social Security. We balanced our books once, we can do it again.

Currently, 500,000 Arkansans depend on their Social Security benefits. This program is invaluable to these Arkansas seniors. In Arkansas, we keep our commitments, we don't cut and run. It is truly a shame that we have squandered a king's ransom, but we should not let the fiscal irresponsibility of one administration force us to break our fundamental promise to American worker and retirees.