Even without reforms, the Social Security fund will be able to meet 100 percent of its obligations until 2042.
Social Security has been effective for 70 years; prior predictions of its demise have been totally overstated.
There is a need for Social Security reform to ensure its stability, and Congress must act.
We must level with the people and explain to them that Social Security will first face funding problems in 2042 that can be fixed now with changes that do not undermine and ultimately drain from the entire program.
To allow all U.S. workers to put part of their earnings into private investment accounts would definitely erode the Social Security system and cause uncertainty for new investors.
We are open to any idea that would strengthen Social Security, but we cannot and will not accept a solution that will destroy it.