Rep. Thompson Responds to State of the Union Address

Rep. Thompson Responds to State of the Union Address

FOR IMMEDIATE RELEASE:

Wednesday, February 02, 2005

WASHINGTON-The following is a statement released by Congressman Mike Thompson (D-Calif.) in response to the President's State of the Union Address. Rep. Thompson serves on the House Ways and Means Committee and is a member of the Blue Dog Coalition, a group of fiscally conservative Democrats.

"I join the President in commending the courage of the Iraqi people who went to the polls last Sunday and took their first steps toward democracy. The Iraqi elections were a significant milestone. However, our troops face the same dangers today that they faced before the elections. Contributing 84% of the soldiers on the ground, the United States has borne the brunt of the human and financial costs in Iraq. With the success of the elections behind us, now is the time for the President to unite the nations of the world in an effort to ensure that democracy in Iraq continues forward and we all must work to bring our troops home as soon as possible.

"Tonight, the President told us that Social Security is headed toward bankruptcy and that Congress must act to save it, when in fact his own administration tells us that the program will be able to pay full benefits until at least 2042. Private accounts are not the solution to the long-term challenges facing Social Security. In reality, they will destroy the program. The President's plan will cut Social Security benefits by up to 50% for individuals under 55 and require $2 trillion in immediate borrowing from foreign governments to cover the costs of privatization.

"Unfortunately, the fiscal policies outlined by the President will leave a legacy of debt for our children and grandchildren. Freezing government spending will not reduce the deficit when it is coupled with permanent tax cuts and $2 trillion in borrowing for Social Security privatization.

"In the coming year I look forward to working with my colleagues on both sides of the aisle to find solutions to the challenges facing Social Security and the growing deficit. Tomorrow when the President begins traveling the country to promote Social Security privatization, I encourage him to provide a concrete plan. Right now the country needs leadership not rhetoric."

http://mikethompson.house.gov/newsroom/index.asp?ID=32