I want to thank our delegation - Rep. Earl Pomeroy, D-N.D., and Sen. Kent Conrad, D-N.D. and Byron Dorgan, D-N.D. - for standing up to this administration's risky scheme to privatize Social Security.
Recently, I saw where Treasury Secretary John Snow was in Bismarck selling a real "snow" job they have tried to promote across the country; namely that because Social Security has some long- term fiscal challenges we have to rip the system out by the roots and risk our guaranteed benefits.
If your roof has a leak, you repair the roof, but you don't tear down the house. This is crazy.
Everyone knows that Social Security has some long-term financial solvency issues that need to be dealt with, but you don't start out by making the situation worse by pulling trillions of dollars out of the system to set up these private accounts.
That will require large benefit cuts and massive borrowing by the federal government to cover the shortfall and even the president admits it won't solve the problem. In fact, it will make the problem worse.
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Our delegation has demonstrated time and again that they put North Dakota first and will work with members of either party to benefit our state. By standing firm against this risky scheme, they are doing that once again. Keep up the great work, gentlemen.
Michele Thomaier
Fargo
