Op-Ed: President's State of the Union Fell Short on Providing Solutions to Country's Challenges

President's State of the Union Fell Short on Providing Solutions to Country's Challenges

by Steny Hoyer
Wednesday, February 02, 2005

On Wednesday evening, the President presented to the American people his view of the state of our union. I think any American who heard the President's speech has to wonder why he is talking about Social Security going 'bankrupt' when he refuses to tackle the very real fiscal crisis of record deficits and exploding debt that his economic policies have caused. He talks of protecting our children's future, but he is pushing a Social Security plan that would mortgage it.

Democrats recognize that Social Security faces long-term challenges, and we are committed to strengthening and modernizing the program for future generations. But we are unequivocally opposed to a privatization scheme that is intended to dismantle the Social Security program.

The President's speech fell woefully short on solutions to Social Security's problems. In fact, his address only raised more questions than it answered. He says Social Security is going 'bankrupt,' yet experts agree that it will be solvent for at least another 40 years. The private accounts that the President talks about would do absolutely nothing to solve Social Security's challenges. In fact, Social Security privatization would drive our nation even deeper into debt, forcing us to borrow up to $2 trillion over the next decade from foreign governments, and would cut benefits by up to 40%.

Also, the President's claim that he will enforce fiscal responsibility is simply belied by experience and hard numbers. His Administration turned record budget surpluses into record deficits in just four short years, and he has offered no credible plan to get our fiscal house in order. And, he has yet to veto one spending bill passed by the Republican-controlled Congress.

Instead, as the budget forecast by the non-partisan Congressional Budget Office (CBO) confirmed at the end of January, he is pursuing fiscal policies that will force future generations to pay our bills and leave them at the mercy of foreign countries that hold more and more American debt. These policies are not only reckless, they are immoral and dangerous.

I urge the President and Congressional Republicans to join Democrats in supporting the pay-as-you-go budget rules that helped us produce those record surpluses in the 1990s. I will continue to fight for policies that rein in runaway deficits, while promoting economic growth and job creation.

Finally, I was pleased to be joined by one of my constituents, Bill Hunt, from Greenbelt, Maryland to be my guest in the Gallery for the State of the Union tonight to hear the President talk about Social Security.

Bill Hunt has spent his career in both the public and private sectors. While he is not yet near retirement, his work at the state and local level, has intimately involved him with programs serving people who have low and moderate income, as well as retirees and the disabled," said Hoyer.

Mr. Hunt said, I have seen first hand the importance of Social Security to many people. I believe Social Security represents a strong commitment that we as a society have made and need to honor. It is an investment in each other. I consider it a social compact, representing both a legal and moral commitment. From my personal experience, members of my own family have benefited from Social Security, men and women who worked hard and Social Security was critical to their livelihood when they retired. I shudder to think what would have happened to them if Social Security hadn't been available.

Mr. Hunt thinks the program has been successful and has worked. He said, "radical change is not warranted at this point, especially if the change serves to undermine the program. People who have paid into Social Security and built their lives expecting to get this benefit should not be placed in jeopardy.

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