Congressional Unit Debates SS ?Crisis'

WASHINGTON–Prompt action on restoring the long-term solvency of the Social Security system would be “prudent,” the Comptroller General of the U.S. told a packed house at the House Ways and Means Committee today.[@@]

Clearly staying away from the “crisis” language that is creating trouble for Republicans seeking a prompt revamp of the system, David M. Walker, head of the Government Accountability Office, specifically said that the Social Security system is not in immediate danger. But, he said, “it faces a serious solvency and sustainability challenge as time passes.”

In his opening statement, panel chairman William Thomas, R-Calif., said, “I do want to remind members as we move forward that retirement security in an aging society does not depend on Social Security alone. Personal savings, pensions, health care, especially long term and chronic care, each play a central role in helping seniors meet their needs.”