But there are real challenges. In order to protect and preserve the program to make sure that every American gets the benefits promised, we have to address these challenges facing the program. According to the Social Security trustees, between now and 2017, Social Security taxes will bring in more than is paid out in benefits. In 2017, Social Security benefits will exceed taxes, and the program will have to rely on the "trust fund" to maintain the current level of benefits. This trust fund will be exhausted in 2041.

While there is no silver bullet to fix Social Security, I will consider prudent corrections to the system using the following principles:

• Any changes made to Social Security should come with fair warning. Changes are easier to accept if people know what to expect.
• We should encourage private savings without cutting the Social Security benefits that Americans have earned through years of hard work. I'm proud to have written a bill - now law -- that increased the annual limit on deductible contributions to IRAs from $2,000 to $5,000.
• Any changes made to Social Security should not be paid by borrowing money that will have to be paid back by our children and grandchildren. Social Security taxes should be used only for Social Security - not education, health care, tax cuts, or anything else. Establishing a true trust fund would extend Social Security solvency for years.

As a result of laws enacted in 1983, 1985, and 1990, Social Security is considered "off budget" for federal budget purposes. While this means that Social Security is not considered as part of the federal budget, Americans are perplexed by the continued use of budget numbers that include Social Security.

For this reason, I introduced legislation, H.R. 653, that would require the Office of Management and Budget and the Congressional Budget Office to remove all Social Security revenues and expenditures from the federal budget where they are now used to hide the true size of the federal deficit. My bill will make clear that the Social Security trust funds are completely off budget. People have a right to know that the President and Congress have been spending, and continue to spend, money from the Social Security Trust Fund. This bill is the first step towards saving Social Security for senior citizens and strengthening retirement for baby boomers.

We have a real opportunity to take a stand in favor of fiscal responsibility and honest budgeting. Members on both sides of the aisle need to work together in a bipartisan manner to ensure that we get back on the road to fiscal responsibility.

Our country simply can't afford to play politics with our seniors' Social Security funds and our children and grandchildren's future.

February 2006