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I agree that we must expand opportunities for retirement saving, but we must not undermine this worthy effort with a flawed privatization scheme that takes the 'security' out of Social Security.

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.

In order to fix Social Security, we must restructure it so that we continue to provide for our Nation's seniors that are approaching retirement age, but allow for younger taxpayers to invest a portion of their Social Security taxes in private accounts.

Social Security is not broke, and Social Security does not need to be privatized.

We need to take steps to strengthen and mend Social Security so that its promise of a secure retirement is just as real for seniors in the future as it is today.

The full retirement age is 67 and the lifespan is 80, so when they first conceived Social Security, they didn't think they were going to be paying benefits for 13-15 years. That's one of the reasons why this pyramid scheme isn't working.

I have a statement on the Social Security. A lot of people approaching that age have either already retired on pensions or have made irreversible plans to retire very soon... I consider it a breach of faith to renege on that promise. It is a rotten thing to do.

The reason to deal with Social Security is that it is a system where we have a tradition and history of making sure it is solidly funded for 75 years. At the moment, we look out and we see it is solidly funded until 2037.