Sununu, Gregg Seek Social Security Reform
By Kim Forrest
WASHINGTON –Senators John Sununu (R-NH) and Judd Gregg (R-NH) joined Senators and House members from both sides of the aisle yesterday in a press conference pushing for Social Security reform.
Led by Reps. James Kolbe (R-AZ) and Charles Stenholm (D-TX), both veteran Social Security activists, the lawmakers discussed the 2002 annual Social Security Trustees report, filed in September. The report concludes that under the existing system, by the year 2017, Social Security will be paying out more than it takes in.
The press conference echoed President Bush’s plea in his State of the Union address, to make Social Security “sound and reliable” by “offer[ing] younger workers a chance to invest in retirement accounts that they will control and they will own.”
Freshman Senator Sununu discussed the importance of taking immediate steps toward reform in a clear message. “To the extent that it is a tough issue it just underscores the need for working with our colleagues, working in a bicameral way,” he said. “We cannot leave this challenge or any other challenge to future generations, future Congresses or future presidents.”
Sununu also mentioned the growing bipartisan support for Social Security reform, saying, “It’s exciting to be able to stand up here with a pretty good-sized group, and I imagine that had this press conference taken place seven or eight or nine years ago… it might have been a lonely group.”
Senator Gregg mentioned the size of his own baby boom generation as a cause of the impending Social Security deficit, adding his personal concerns for the future. “The practical effect is that my children are going to have to use their disposable income in order to support my generation, and that’s wrong,” he said. He went on to describe “the only way” to improve Social Security, is “to give younger people the opportunity to save and own the assets which they save, which does not occur today.”
Gregg also announced his plan to introduce new legislation on Social Security reform. He said the bill has been drafted and will correspond with his past work with Kolbe, Stenholm and Senator John Breaux (D-LA). Gregg mentioned his hope that introduction of the bill might “keep the discussion going forward,” but “in a bipartisan way,” with “a need for responsible voices on both sides.”
In comments after the press conference, Senator Sununu said Social Security reform is a concern of his constituents. “I think people in New Hampshire understand the importance of Social Security modernization and the importance of health care modernization,” he said.
Evelyn Morton, senior legislative representative for AARP, agreed with those at the conference that bipartisan leadership is an important step toward successful Social Security reform, but said that “something truly representative” of what the American people need is essential.
“The stock market is on a roller-coaster ride and the economy is falling, and Social Security plays such a significant role in retirement,” she said. “AARP believes that we’ve got to have investment as an important component in retirement security, but we’ve got to have a package that also has the approval of the American people.”
Published in The Keene Sentinel, in New Hampshire.
