We Must Save Social Security and Medicare Now, Says Brady

Washington, D.C. - - U.S. Representative Kevin Brady, who reacted angrily last week to statements by President Clinton and congressional leaders on the possibility of not passing Social Security and Medicare legislation this year, praised House Ways and Means Chairman Bill Archer (R-TX) for introducing legislation intended to guarantee the solvency of the Social Security and Medicare systems. “It’s time to stop making excuses and start talking about how to best save Social Security and Medicare,” said Brady.

Fortunately for the country, Chairman Archer has taken the lead by proposing a plan that would allow Americans to invest part of their payroll taxes in private equities. The plan would provide individuals with a higher rate of return from their Social Security investment.

In comparison, President Clinton has failed to demonstrate the type of leadership we expected from the White House on the issue of Social Security and Medicare. The Clinton Administration intentionally missed the opportunity to offer legislation that would have started an open and welcomed dialog on saving Social Security and Medicare.

“I don’t have all the answers, but I know that we must save Social Security and Medicare now. Everyone must come back to the table and develop a non-partisan resolution to ensure that Social Security and Medicare will be available to those who need it today and in the future,” said Brady. Additionally, the Social Security Actuaries, whose chief responsibility is the overall review of Social Security’s balance between future liabilities and future tax collections, recently confirmed that the Archer/Shaw Social Security Guarantee Plan saves Social Security for 75 years and beyond, which results in net federal budget surpluses.

“Congressman Archer has started an open and honest dialog on saving Social Security and Medicare, I urge the Clinton Administration to stop playing political games and come back to the discussions with a viable plan,” said Brady

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