George W. Bush on Social Security (United States)

“Social Security has been called the third rail of American politics, the one you're not supposed to touch because it might shock you. But if you don't touch it, you cannot fix it. And I intend to fix it. To the seniors in this country, you earned your benefits, you made your plans, and President George W. Bush will keep the promise of Social Security. No changes, no reductions, no way. Our opponents will say otherwise. This is their last parting ploy, and don't believe a word of it. Now is the time—now is the time for Republicans and Democrats to end the politics of fear and save Social Security together.”

“Another priority in my budget is to keep the vital promises of Medicare and Social Security, and together we will do so. To meet the health care needs of all America's seniors, we double the Medicare budget over the next 10 years. My budget dedicates $238 billion to Medicare next year alone, enough to fund all current programs and to begin a new prescription drug benefit for low-income seniors. No senior in America should have to choose between buying food and buying prescriptions. To make sure the retirement savings of America's seniors are not diverted into any other program, my budget protects all $2.6 trillion of the Social Security surplus for Social Security and for Social Security alone.”

“We must also confront the larger challenge of mandatory spending, or entitlements. This year, the first of about 78 million baby boomers turn 60, including two of my dad's favorite people—me and President Clinton. This milestone is more than a personal crisis— it is a national challenge. The retirement of the baby boom generation will put unprecedented strains on the Federal Government. By 2030, spending for Social Security, Medicare, and Medicaid alone will be almost 60 percent of the entire Federal budget. And that will present future Congresses with impossible choices: staggering tax increases, immense deficits, or deep cuts in every category of spending. Congress did not act last year on my proposal to save Social Security, yet the rising cost of entitlements is a problem that is not going away. And every year we fail to act, the situation gets worse. So tonight I ask you to join me in creating a commission to examine the full impact of baby boom retirements on Social Security, Medicare, and Medicaid. This commission should include Members of Congress of both parties and offer bipartisan solutions. We need to put aside partisan politics and work together and get this problem solved.”