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Social Security
Preserving and protecting Social Security is one of my highest priorities. Indeed, I believe that the most vital aspect of our Social Security program has been the promise provided by the federal government that each beneficiary will receive a guaranteed regular and defined benefit, and I will not support any initiative that will in any way jeopardize that covenant. However, we must be honest with ourselves and the younger generations, and begin to seriously explore ways to configure the Social Security system of tomorrow in ways that better enhance its long term and future viability.
Implementation of any privatization plan would follow a long, hard road before reaching its conclusion. The objective, of course, is to maximize the return on invested dollars. I am concerned that we would be putting investors' funds at risk and am not clear how a catastrophic loss would be overcome. Additionally, we would have to establish some type of parameters so that the investor can be guided in making sound investment decisions. Frankly, planning for retirement can be an enormously sophisticated exercise even for someone with an intimate knowledge of the stock market.
As a member of Congress who does not serve on a Committee of jurisdiction for these proposals, I can only vote on related bills that reach the floor of the full House. So, until a bill passes Committee and is reported to the floor, I will remain fully mindful of the views and concerns my constituents have expressed as I carefully follow, review, and take part in these proceedings as they progress.
I do not want Congress to unnecessarily tinker with Social Security, but I recognize that we must address the long-term financial stability of the program. I intend to continue my efforts to ensure a financially-sound, benefit-secure program for the millions of Americans who have contributed to Social Security and expect – quite reasonably so – to receive benefits from the program. They deserve, and we owe them, no less.
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