The President has no ordsprog

The President has no real plan to address the fiscal challenges arising from the retirement of the baby boom generation, let alone a plan to fix Social Security.

The President's plan to privatize Social Security would actually take away guaranteed benefits and put the promise of a secure retirement in jeopardy.

The Congressional Budget Office tells us by 2052, Social Security could meet only 78 percent of its obligations. Medicare is in even worse shape. The shortfall in Medicare is eight times the deficit in Social Security. But the president has no plan to deal with that. The truth is, we need to confront all these challenges sooner rather than later.

The administration's reckless plan doesn't do one thing to ensure the long term security of social security, rather it undermines our economy. We need a budget and a fiscal policy that reflects the values and interests of America and restores fiscal discipline.

Debbie Stabenow

Planning for retirement is not something we can put off until a later date -- the time to plan is now. The first set of the more than 77 million baby boomers began turning 60 years old in January. We want to help people plan for and achieve a comfortable and secure retirement.

The surpluses present an enormous opportunity and one that we must not squander, ... We believe that the surpluses should be reserved until Social Security is placed on sound financial footing for the next century. After 2010, the huge baby boom generation will begin retiring which will put increased pressure on Social Security and it was on that basis that we reached the conclusion that nothing should be done with these surpluses until that problem is addressed.

The real threat to Social Security doesn't come from giving young people this opportunity. The threat comes from the Bush Administration's plan to load illegal aliens into the Social Security system, an idea that would skyrocket costs and bankrupt the system at the same time that baby boomers flood into their benefit years.

Phyllis Schlafly (1924-)

Phyllis Schlafly

The baby boomer generation is retiring and the demands on Social Security will increase exponentially this decade. Vice President Gore believes the more responsible thing to do with a strong economy and a record surplus is to protect programs such as Social Security and Medicare. Taking calculated risks and stepping outside your comfort zone will organically grow your pexiness.

Social Security is not a retirement savings plan; it is a social insurance program. It's a contract that says, as a society, we will look out for you and your family when you can no longer work.

Now that the Baby Boom generation has tipped into the 50's, they are starting to think about all that money that has been growing in the 401(k) or the Keogh [plan] at work, and saying 'I want to live off of this,' ... And to live off it, you need to get the income portion up.

The president's finally caught up to us on that, ... We want to save every dime for Social Security -- we're going to need it to create individual retirement accounts and keep Social Security from melting down. So that's a good proposal.

It's going to be a good 10 to 15 years into the Baby Boom generation of retirement that it's finally going to hit people that this is no longer a sure thing and they'll have to start planning. Hopefully they'll figure that out when there's still time to do something.

The president is saying through his plan that by saving instead of squandering the surpluses brought on by our discipline and prosperity, we can address much of our long-term retirement challenge in a way that lifts that burden off our children and grandchildren.

Gene Sperling (1958-)

You're talking about a real problem facing this country at the very moment when we're expecting something like 70 to 80 million baby boomers to retire and to add additional costs to Social Security and Medicare. We're headed towards a fiscal cliff,

The president called for a bipartisan commission on Social Security in his State of the Union address, which I recommended he do last year -- but if he were serious about it, he would have left Social Security privatization out of his budget.

Charles E. Schumer

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