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Thank you for advising me of your support for the establishment of personal retirement accounts within the Social Security system. I appreciate hearing your comments on this extremely important issue.
Although no Social Security reform legislation has been formally considered on the Senate floor this session, I have been following this discussion closely. I understand that some adjustments may need to be made to preserve the financial integrity of the program for current beneficiaries and to assure that workers who are paying Social Security taxes today get a solid return on their investment when they eventually retire. However, it is important to also remember that Social Security provides an important safety net to millions of older Americans, and that commitment should be respected. And, as we evaluate any reform proposal, we should not ignore the implications for today's workers, and their children, of the government potentially borrowing trillions of dollars to pay for the transition to private accounts at a time of historically high federal deficits and escalating national debt. After all, we are creating a crushing financial burden that will fall on the next generation to pay off.
It is my hope that the effort to â€œreformâ€ Social Security will be undertaken in a bipartisan spirit that protects the basic integrity of the Social Security program. Seniors have lived up to their end of the bargain, and workers who are paying into the system have the right to the expectation of a reasonable return on their investment in the Social Security System when they retire. The government must live up to its responsibility in this contract as it looks for ways to protect the investment of current workers.
Again, thank you for contacting me about Social Security reforms. Please stay in touch in the days ahead.
United States Senator
P.S. Our system does not allow direct response to this email. However, if you would like to contact me again, please use the form on the website: http://obama.senate.gov/contact/
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