Rep. Davis Asks President for Honest Debate on Social Security

Bush’s proposal will cost $2 trillion and undermine Social Security

 

TAMPA – Today, with President Bush scheduled to arrive in Tampa to discuss Social Security reform, Congressman Jim Davis sent a letter to the President calling for an “open and honest discussion with Floridians” about the challenges facing Social Security and options for preserving the program for future generations.

 

Davis expressed concerns that the President’s proposal to divert nearly 30 percent of Social Security funds to private accounts would undermine the program and drive up the federal debt by $2 trillion. 

 

Noting the Federal Reserve Board’s decision yesterday to raise short-term interest rates, Davis stated that “by continuing to drive up the federal debt, we can only expect those rates to rise higher, placing a double penalty on the future generations who will be forced to pay off our debt.  We cannot reform Social Security at the expense of our nation’s economic well being.”

 

Click here to read Rep. Davis' letter.