2/09/2005 06:15:24 PM|||Toni|||The American Thinker
This is just great. He's got quotes from President Clinton on speeches he gave in 1998 alone on the crisis looming for Social Security.

One quote:
This fiscal crisis in Social Security affects every generation. We now know that the Social Security trust fund is fine for another few decades. But if it gets in trouble and we don't deal with it, then it not only affects the generation of the baby boomers and whether they'll have enough to live on when they retire, it raises the question of whether they will have enough to live on by unfairly burdening their children and, therefore, unfairly burdening their children's ability to raise their grandchildren.
* * *
In 1960, there were 5.1 Americans working for every one person drawing Social Security. In 1997, there's still 3.3 people working for every one person drawing Social Security. In 2030, the year after the Social Security trust fund supposedly will go broke unless we change something, at present projected retirement rates -- that is, the presently projected retirement age and same rates -- there will be two people working for every one person drawing Social Security.”
* * *
And if nothing is done by 2029, there will be a deficit in the Social Security trust fund, which will either require -- if you just wait until then -- a huge tax increase in the payroll tax, or just about a 25 percent cut in Social Security benefits.
[From: REMARKS BY THE PRESIDENT ON SOCIAL SECURITY -- February 9, 1998 -- Gaston Hall, Georgetown University, Washington, D.C.]
|||110796018580844087|||Clinton on the Social Security crisis