Subject: RE: Why should Social Security reform happen now?
Contributor: PANELIST: Rep. Xavier Becerra
The Social Security system is designed to help Americans in their times of need -- when a spouse or parent dies, when a worker is injured, or when old age makes it more difficult to make ends meet. If we wait too long to strengthen Social Security, we will be forced to make painful decisions that may be unnecessarily harsh. However, the funding shortfall is sufficiently in the future that we can make modest changes and guard against adversely affecting the workers, children, seniors, widows, and others who have come to rely upon Social Security's promise to provide in their times of need.
We are living in a period of great economic prosperity with forecasts of large budget surpluses in the coming decades. It is imperative that we take advantage of this opportunity and follow the President's lead seeking to reduce the federal debt. By reducing the government debt we foster continued economic growth; we encourage increased national saving. Basically, it would be in our best interests to deal with future shortfalls in the Social Security system while we are in a position of economic strength.
