Social Security

11 February 2005

I support personal accounts and would like to see a bipartisan compromise to become law. However, I do not approve of it being at the expense associated with borrowing more money. My generation (I am 25) will pay for most of the cost of these loans, plus interest. I don't like this because I will be in enough personal debt from education loans when I graduate from all my schooling. I do not want to face the cahnce of higher taxes to finance the public debt as well.

Please support only a fiscally responsible plan. I think the idea of raising the payroll tax cap is fiscally responsible. Being taxed on more of my income once I am making substantial income, is I beleive a small price to pay for having personal accounts. I think it is responsible because it funds the transition from within and not by making the public debt larger.

I undestand that the President does not want to raise taxes at all and in fact publicly puts down the option of raising the tax cap. However, he wants to borrow the money to pay for the personal accounts and claims a desire to cut the deficit in half in 5 years. How does this happen if we keep borrowing money?

Again, I would like to have a personal account, but I think there are other priorities that we should take care of first like Iraq, The War on Terror, and medicare.

Iraq/War on Terror--We know the cost of the Iraq supplemetal will be $80 million. Since we know the cost I beleive Congress can put this into the budget when they write it. This cost should be in the budget and not supplemental.

Medicare--We need to fix the problem created by the Medicare Perscription drug bill whose cost keeps going up. On this issue I suggest that you take a look at Sen. Vitter's proposal S. 109 The Pharmaceutical Market Access Act of 2005. I beleive that this legislation corrects the problems caused by the Medicare prscription drug bill.

These are just two of the problems we face beside the deficit. If we cannot get a fiscally responsible personal accounts bill then we should not go forward.I beleive that there will be one fiscally responsible compromise bill and that is yours. I realize you are working with a handful of democrats trying to hammer out details of a compromise. The work should contiue. I thank your labor will be fruitful.I thank for your good work on this issue.

God Bless you.