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Social Security Solutions

Location: Washington, DC

SOCIAL SECURITY SOLUTIONS -- (House of Representatives - May 03, 2005)

(Mr. PRICE of Georgia asked and was given permission to address the House for 1 minute and to revise and extend his remarks.)

Mr. PRICE of Georgia. Mr. Speaker, last Thursday our President told the Nation that he was willing to listen to any ideas from anyone and was willing to share the credit for a solution to Social Security problems.

Finding a solution requires more than just complaining and my colleagues on the other side would like you to believe that they have a plan, but plans require more than just complaints.

A recent national poll by Harvard University found that 7 out of 10 college students do not believe that Social Security will be there for them. Younger workers know that the government has used their Social Security money for other programs. They also understand voluntary personal accounts offer a better way to provide security for them.

And it is only fair. In past years, retirees received a return of 10 percent and more from Social Security. Today that return is barely 1.5 percent and that is not fair to younger Americans. Younger workers today are much more familiar with investments through 401(k) plans offered which employers, workers know the power of compound interest and how their contributions to these accounts grow steady.

Mr. Speaker, I challenge Members of the House and Senate to have a vision for Social Security one of fairness for all Americans.

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