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2005 Ron Paul Chapter 4
Not linked on Ron Paul’s Congressional website.
Congressional Record [.PDF]
Introducing The Social Security Preservation Act
4 January 2005
HON. RON PAUL
OF TEXAS
IN THE HOUSE OF REPRESENTATIVES
Tuesday, January 4, 2005
2005 Ron Paul 4:1
Mr. PAUL. Mr. Speaker, I rise to protect the integrity of the Social Security trust fund by introducing
the Social Security Preservation Act.
The Social Security Preservation Act is a rather
simple bill which states that all monies
raised by the Social Security trust fund will be
spent in payments to beneficiaries, with excess
receipts invested in interest-bearing certificates
of deposit. This will help keep Social
Security trust fund monies from being diverted
to other programs, as well as allow the fund
to grow by providing for investment in interest-
bearing instruments.
2005 Ron Paul 4:2
The Social Security Preservation Act ensures that the government will keep its promises
to America’s seniors that taxes collected
for Social Security will be used for Social Security.
When the government taxes Americans
to fund Social Security, it promises the American
people that the money will be there for
them when they retire. Congress has a moral
obligation to keep that promise.
2005 Ron Paul 4:3
With federal deficits reaching historic levels the pressure from special interests for massive
new raids on the trust fund is greater than
ever. Thus it is vital that Congress act now to
protect the trust fund from big spending, pork-
barrel politics. Social Security reform will be
one of the major issues discussed in this Congress
and many of my colleagues have different
ideas regarding how to best preserve
the long-term solvency of the program. However,
as a medical doctor, I know the first step
in treatment is to stop the bleeding, and the
Social Security Preservation Act stops the
bleeding of the Social Security trust fund. I
therefore call upon all my colleagues, regardless
of which proposal for long-term Social Security
reform they support, to stand up for
America’s seniors by cosponsoring the Social
Security Preservation Act.
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