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I think we'll build a consensus for action on Social Security reform which will reduce that long-term unfunded obligation and put the system on a sustainable basis.

Social Security is something that we need to deal with, because people who are working today, who will retire in the future, people who are retired today, they have a right - and it's part of the compact that they can depend on their benefits. We should fix the long-term funding problem of Social Security because that's the right thing to do.

Social Security must be preserved and strengthened. But we need to be candid about the costs and willing to make the tough choices that real reform will require.

I think we need to make sure that we are putting Social Security on a sustainable path. It's absolutely something that the federal government is going to be involved in, in the future.

But there is a need to explore ways we can preserve the promise of Social Security for future generations.

What we should be trying to do is to encourage people to establish private retirement accounts and help them take pressure off the Social Security system.

We want to make sure that Social Security is fixed for those people who have had that promise and there's something in the future for our younger workers. And we're not about to do a welfare program.

Certainly Social Security needs to be reformed.