Ehrlich on Washington column, January 25, 1998

MEWS FROM ( Robert L. Ehrlich, Jr Second Congressional District of Maryland 1407 York Rood, Suite 304 315 Cannon House Office Building Lutherville, Maryland 2 1 093 Washington, D.C. 205 1 5 EHRLICH ON WASHINGTON Week of January 25, 1998 By Congressman Robert L. Ehrlich, Jr. WHY SOCIAL SECURITY MUST BE FIXED - NOW Few things are more important to us than securing our economic future. Most of us dream of growing old and retiring comfortably. That is why I welcome the recent attention and commitment to fixing our Social Security program, the most important social program ever created in America. Social Security is the foundation of our families and communities. It provides us with the piece of mind that, as we get older, we will be able to maintain our quality of life. Unfortunately, for many of the “Baby Boomers”, including myself, the dream of financial stability maybe slipping away. Today, the Social Security program is strong. In fact, we are accumulating significant surpluses in the Social Security Trust Fund. As a result, people who are currently enjoying its benefits will continue to so. Our elderly relatives or neighbors can depend on it for the next two decades. But for those people still working and contributing a portion of their wages, the long term outlook is not so bright. By the time the Baby Boom generation retires in the next century, the system may be incapable of providing full Social Security benefits. I applauded President Clinton’s announcement in his State of the Union speech that he will join with the Congress in fixing the long-term solvency of Social Security this year. Very soon, the House of Representatives will begin the process of sifting through a mountain of ideas.