INTRODUCTION OF THE SOCIAL SECURITY PRESERVATION ACT
Not linked on Ron Paul’s Congressional Website.
HON. RON PAUL
OF TEXAS
IN THE HOUSE OF REPRESENTATIVES
Tuesday, January 6, 2009
2009 Ron Paul 2:1
Mr. PAUL. Madam 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 moneys
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 moneys from being diverted
to other programs, as well as allow the fund
to grow by providing for investment in interest-
bearing instruments.
2009 Ron Paul 2:2
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.
2009 Ron Paul 2:3
With federal deficits reaching historic levels,
and with new demands being made on the
U.S. Treasury on an almost weekly basis, 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. 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.
