JS-2303: Statement from Secretary Snow Following a Conversation on Social Security <script type="text/javascript"> var wmNotice = "UNT Web Archive - External links, forms, and search boxes may not function within this collection. Url: http://treasury.gov/press/releases/js2303.htm time: 22:54:13 Jan 09, 2009"; var wmHideNotice = "hide"; var contextRoot = "https://webarchive.library.unt.edu/eot2008/"; </script> <script type="text/javascript" src="https://webarchive.library.unt.edu/eot2008/js/disclaim.js"></script> <BR> Greater Albuquerque Chamber of Commerce<BR>Albuquerque, NM



	FROM THE OFFICE OF PUBLIC AFFAIRS March 10, 2005 JS-2303 Statement from Secretary Snow Following a Conversation on Social Security Greater Albuquerque Chamber of Commerce Albuquerque, NM "It was a pleasure to talk with business leaders here in Albuquerque this morning about reforming Social Security in a way that is fair to all generations. The national dialogue on Social Security is terrific; it's the topic at lunch counters and kitchen tables, college dining halls and office water coolers all over the country. And as ideas begin to come forward, it's important to remember that reform of the Social Security system must be lasting, permanent, not just a temporary `band-aid.' It takes courage to do more than patch up a system that affects every citizen's life. But it's what Americans expect of their leaders; they expect elected officials like the President and the Congress to really solve problems, not just tinker with them. That's why the President has said that Social Security must be put on solid financial ground permanently, for the long haul. He believes that it would be an injustice to the American people if Washington, DC simply put a band-aid on the problem. Because then the whole country would be back at the starting line in a few years. So if someone promises you a 75-year fix, I encourage you to read the fine print. In 1983 we were promised a "75-year fix" – but 2 years later, the system was headed out of balance again. I know that all of you born before 1950 know that nothing changes for you. You aren't going to be scared by ads, or misled by politicians. You know better than anyone how important it is to have a secure retirement, and you also want what's best for your kids and your grandkids… which is why we welcome your ideas on this issue. Your generation has an awfully important opportunity. You can be the ones to usher in a new generation of shareholders in the American Dream. Your children and grandchildren have an opportunity you didn't have – an opportunity to own their retirement, a nest egg they could pass on to their heirs. The creation of voluntary personal accounts is the element that makes the President's vision so different from a band-aid approach. They would change our children's financial prospects and give Social Security a future that won't need constant patching-up."