Opening remarks

[National Dialogue Moderator <moderator>]

Thank you Carolyn and Bob for your kind introduction.  It is an honor to
participate in this forum with my colleagues from the U.S. House Committee
on Ways and Means - Chairman Bill Archer, Representative Thurman and
Representative Becerra.  Americans Discuss Social Security and Information
Renaissance should be commended for providing this forum for elected
officials to hear the concerns of those with the most stake in the Social
Security debate - the American people.  Judging from the Americans Discuss
Social Security homepage, it looks like the first week has seen quite a
lively debate on the future of Social Security.

As I have consistently stated, Social Security has been the most successful
social program ever administered by the federal government.  One need only
to look at the decline in poverty rates among our nation's seniors since the
program's inception to make this conclusion.

However, the program faces long-term financial challenges.  In 2014, the
program is expected to begin posting deficits.  Since Social Security is a
pay as you go system, with the payroll taxes of current workers financing
the benefits of current retirees, revenue shortfalls resulting from fewer
workers paying the benefits of an increasing number of retirees will begin
to strain the program.  By 2034, it is expected that Social Security will
not be able to meet its obligations to workers who are currently paying into
the system.  While the short-term picture is good, with the program
currently running a surplus,  the long-term problem presents significant
challenges to policymakers.

I look forward to a lively and informative discussion on how Congress and
the President should address this issue and whether or not immediate action
should be taken to reform Social Security.   Again, I appreciate the
invitation of Americans Discuss Social Security and Information Renaissance
to participate in this forum.

Kenny Hulshof