FOR IMMEDIATE RELEASE CONTACT: Doug McGinn September 30, 1999 (202) 225-3031 WASHINGTON - First District Congressman Paul Ryan today joined House leaders at a news conference to call on President Clinton to support legislative efforts aimed at eliminating the national debt and ending the 30-year raid on Social Security. In particular, Ryan called on the President to live up to his public commitments to protect Social Security by pressuring Senate Democrats to allow pending Social Security "Lock Box" legislation to be voted on. While the legislation has passed the House of Representatives, it has been stalled in the Senate for nearly five months. RYAN CALLS ON PRESIDENT TO END THE RAID ON SOCIAL SECURITY, JOIN DEBT REDUCTION EFFORTS
At the event Ryan issued the following statement:
We have paid down the debt. Last year alone, we paid down $51 billion dollars of public debt and this year we are poised to pay down an additional $100 billion. This has been a profound achievement. How was this done? We held the line on spending. It would now be reckless for us to backtrack from the progress we have made. It would be reckless for us to abandon our commitment to lift this financial burden from future generations.
President Clinton, unfortunately, now wishes to embark on an unprecedented spree of new and expanded spending programs that would endanger our efforts to eliminate the national debt. Also alarming, his most recent budget proposal would raid Social Security to the tune of nearly $20 billion next year alone. The same Social Security program that he pledges to protect at every public opportunity. Where is his commitment to Social Security?
The President has also publicly endorsed the Social Security "Lock Box" concept. Yet, this needed legislation has been held hostage for nearly five months by Senate Democrats who have refused to allow the measure to even be voted on. Where is his commitment to Social Security? If the "Lock Box" legislation were law today, Social Security would be protected and we would be on our way to paying off the national debt.
Payroll taxes are withheld from each working American's paycheck for one reason - to support those programs workers will later depend on for retirement security. The President is hoping to use your Social Security card as his credit card to pay for new programs. The only way to stop the President form raiding Social Security is to lock away every penny of it for Social Security, Medicare, and debt reduction.
We've worked too long, come too far, and accomplished too much to throw in the towel on Social Security. The line is drawn. The raid on Social Security must stop. To do so, both the President and Congress must show leadership. Throughout my last campaign for Congress, I pledged not contribute to any raid on Social Security. I stand by that pledge and I encourage the President to stand by his. It is time for the Social Security "Lock Box" to become law.
For additional information, or to schedule an interview, please contact Doug McGinn at (202) 226-7326.