E. Shaw

Mr. SHAW

Mr. SHAW. Mr. Speaker, I rise today to recognize and support the efforts of the United States Coast Guard, the Coast Guard Auxiliary, and the National Safe Boating Council as they coordinate yet another successful National Safe Boating Week, May 21-27, 2005. In 2003, an estimated 78 million Americans enjoyed recreational boating on the approximately 13 million recreational vessels registered throughout the nation. Boating has truly become a treasured piece of American culture. Thanks to the efforts of many, boating is becoming safer as it grows more popular. Boating fatalities have been cut in half since the 1970's due to increased boater education, more widespread use of life vests, and safer boating equipment. Nonetheless, we have much work to do. In 2003, 703 Americans died in boating-related accidents. Sadly, half of these deaths could have been prevented had proper flotation devices been used. I have co-sponsored, along with Representative Jim Cooper and Representative Gene Taylor, House Resolution 243, which aims at increasing boating safety education and accident prevention and supports the goals of National Safe Boating Week. As Co-Founder and Co- Chairman of the Congressional Boating Caucus, I certainly understand the importance of these issues on recreational boaters. Mr. Speaker, the upcoming Memorial Day holiday marks the unofficial start of the summer boating season in South Florida. As such, we must continue to support boating education and awareness so that our waters can be a fun and, above all, safe place for all Americans to enjoy.

Mr. SHAW

Mr. SHAW. Mr. Chairman, I thank the gentleman for yielding me this time, and I stand in vigorous opposition to this amendment or any amendment similar to this. The point has been made that you can drill for gas safely. When you start drilling, you do not know what you are going to get. You do not know whether you are going to get gas or oil, and the environmental problems here are immense. Thanks to the gentleman from Florida (Mr. Young), we have had this moratorium in place since 1983. We need to leave it in place. The environmental studies and testimony that would be required in order to negate any chance of pollution must be gone through before this House ever considers such a bill. So I would urge all the Members to vote against lifting this moratorium. It is reckless. It is reckless to the environment of Florida. It is a bad environmental vote, and I recommend its defeat.

Mr. SHAW

Mr. SHAW. I thank the gentleman for yielding me this time. Mr. Chairman, I am very pleased to offer this amendment along with my colleagues because the EPA's proposed guidance would hurt water treatment practices already in place in my home State of Florida. Governor Jeb Bush and the Florida Department of Environmental Protection support this amendment. I am not here to impose any added costs to treatment plants. There is a rumor, as has just been expressed by my friend from Tennessee, that our amendment would cost upwards of $200 billion in added costs to cities. This is just plain wrong. Our amendment does not impose any new regulations. It simply allows cities and States to maintain their current level of water treatment practices. Florida has a higher level of treatment and should not be forced to step back. I urge my colleagues to vote ``yes'' on the Stupak-Shaw-Pallone- Miller amendment. A ``yes'' vote is a vote for safe, clean water.

Mr. SHAW

Mr. SHAW. Mr. Speaker, I rise today in recognition of Yom Hoshoah, Holocaust Remembrance Day. We recognize now not only the more than six million Jews who lost their lives, but the human potential that was also extinguished during the dark days of World War II. We remember not just the mothers and fathers, the sons and daughters, the brothers and sisters, but also their descendents who never got to make their contributions to mankind. And we remember the heroes who gave their lives in the greatest fight for freedom and democracy the modern world has ever known. By reflecting on this most solemn day, we join in a special bond with the victims of the Holocaust to ensure that the world will never suffer such a horrific tragedy again. It is through our reflection that we acknowledge the human loss and through our actions that we build a world free of such hatred and despair. Our greatest tribute to the millions who suffered at the hands of the Nazi regime will be to ensure that their memory will never be extinguished. By recognizing Holocaust Remembrance Day, we carry on the legacy of those who bore the greatest burden of one of the world's saddest times. Now 60 years later, the fires of hate, which burned so brightly in Europe from 1939 through 1945, never really burned out. They were smoldering in the hearts of the terrorists on September 11th. Those same fires are ablaze today, in actions of homicide bombers in Tel Aviv, the West Bank, and in Gaza; and in genocidal practices in the Sudan. Mr. Speaker, as we recognize the 60th anniversary of the liberation of the Auschwitz concentration camp, we pray for an end to evils of hate throughout the world. With these examples fresh in our minds, we marvel at the strength and character of the Jewish people. Their steadfast determination to rebuild their lives following the Holocaust has given the world a remarkable model of resolve. Through their example, we can glimpse the extraordinary human spirit that rises above the fruitlessness of anger and resentment. With this day and with our deeds we honor that spirit. Mr. Speaker, I am proud to recognize Yom Hoshoah, May 5, 2005, and I urge my colleagues, and all Americans, to do the same.

Mr. SHAW

Mr. SHAW. Mr. Speaker, I rise today to commend the Journal of Accountancy, the Journal of record for the accounting profession, on its 100th anniversary this year. The Journal of Accountancy, which is published by the American Institute of Certified Public Accountants, is read by nearly 400,000 readers each month. Its contents include official releases of technical requirements for CPAs as well as news and information that enlighten readers about important relevant developments in and outside the profession and that enhance their professional competency. As a CPA, I am keenly aware of the value of this publication. CPAs play a vital role in our economy, and since 1905 the Journal of Accountancy has helped keep them informed about key business trends. I would like to acknowledge the significant contribution that the JofA has made during its first century and to recognize its editors, authors and art and production staff for their hard work. I extend my best wishes to the JofA for its continued success.

Mr. SHAW

Mr. SHAW. Mr. Speaker, I rise today to commend the Journal of Accountancy, the Journal of record for the accounting profession, on its 100th anniversary this year. The Journal of Accountancy, which is published by the American Institute of Certified Public Accountants, is read by nearly 400,000 readers each month. Its contents include official releases of technical requirements for CPAs as well as news and information that enlighten readers about important relevant developments in and outside the profession and that enhance their professional competency. As a CPA, I am keenly aware of the value of this publication. CPAs play a vital role in our economy, and since 1905 the Journal of Accountancy has helped keep them informed about key business trends. I would like to acknowledge the significant contribution that the JofA has made during its first century and to recognize its editors, authors and art and production staff for their hard work. I extend my best wishes to the JofA for its continued success.

Mr. SHAW

Mr. SHAW. Mr. Speaker, the use of Social Security numbers is rampant. When Social Security numbers were created in 1936, their only purpose was to track a worker's earnings so that Social Security benefits could be calculated. But today, we literally have a culture of dependence on Social Security numbers. Businesses and governments use the number as the primary way of identifying individuals. All of us know how difficult it is to conduct even the most mundane transactions without having to provide our Social Security number first. It's no wonder identity theft has become the fastest growing white collar crime. Worse yet, terrorists, including those responsible for the September 11th attacks, misuse SSNs in order to assimilate into our society. Barely a day goes by without hearing more examples of the truly devastating effects of identity theft. During a hearing of the Ways and Means Subcommittee on Social Security hearing, we learned about a widow whose husband died in the September 11th attacks on the World Trade Center--an illegal immigrant used her deceased husband's Social Security number to get a driver's license and to work. We also heard about individuals whose credit was ruined, who were arrested for crimes they did not commit, and who spent years and hundreds or even thousands of dollars out of their own pockets trying to clear their names because of identity theft often facilitated by obtaining the individual's Social Security number. Concerns about identity theft are increasing dramatically. According to the Federal Trade Commission, identity theft is the number one consumer complaint--amounting to 39 percent of complaints received in 2004. In fact, my state, Florida, is sixth in the nation in the number of identity theft victims per 100,000 people. Clearly, there is need for a comprehensive law to better protect the privacy of Social Security numbers and protect the American public from being victimized. Today, I re-introduce the ``Social Security Number Privacy and Identity Theft Prevention Act of 2005,'' which is similar to bipartisan legislation introduced during the last Congress. In the public and private sector, the bill would restrict the sale and public display of Social Security numbers, limit dissemination of Social Security numbers by credit reporting agencies, make it more difficult for businesses to deny services if a customer refuses to provide his or her Social Security number and establish civil and criminal penalties for violations. Congress must act to protect the very number it requires each of us to obtain and use throughout our lifetime. Providing for uses of Social Security numbers that benefit the public while protecting these numbers from being used by criminals, or even terrorists, is a complex balancing act. This bill achieves that balance by ensuring Social Security numbers are exchanged only when necessary and protected from indiscriminant disclosure. I urge Members to co-sponsor this important legislation.

Mr. SHAW

Mr. SHAW. Mr. Speaker, I rise today to recognize the eleven electees to the Dr. Nan S. Hutchinson Broward Senior Hall of Fame for 2005. To coincide with the month of May as Older Americans' Month, the Area Agency on Aging of Broward County annually coordinates the Hall of Fame Elections to honor seniors who are dedicated to serving their community. Mr. Vincent Ciardullo has donated over 7500 hours of community service to the Coral Springs Medical Center Auxiliary, where he holds the elected position of Parliamentarian and Chair of ``Ways and Means.'' Mr. Ciardullo has also raised funds in excess of $250,000 for the facility. In 1997, Mr. Ciardullo initiated the annual Teddy Bear Parade which has collected thousands of teddy bears that local police and EMS departments distribute to children in distress situations. Mr. Nat Goren has dedicated himself to a number of South Florida medical centers. He has served on the Board of Directors for the American Cancer Society, is the Past President of the Alzheimer's Association of South Florida, and the Past Chairman of Broward Meals on Wheels. A World War II Naval Veteran, Mr. Goren is a devoted and active member of his community. Ms. Jean Johnson has been involved with numerous charitable organizations including Sunshine Cathedral Board of Directors, the Jail Ministry, the Women's Guild, SAGE, Hollywood Humane Resource Advisory Board, Seniors and Law Enforcement Together, and the American Cancer Society. Ms. Johnson has also been an active volunteer at the Noble A. McArtor Adult Day Care Center, serving on the Sponsorship and Publicity/Advertising Subcommittees of the Advisory Council. Ms. Betty Kaufman has coordinated fund-raising, education and outreach efforts for over 15 years. Ms. Kaufman has been recognized as Volunteer of the Year of the Advisory Council of the Area Agency of Aging. Ms. Kaufman has also been actively involved with the Broward Grandparents program; having worked on the Senior Spring Festival, Foster Grandparents Breakfast, and ``Gift of Gold'' Distribution. Additionally, her service received statewide attention in 1993, when the late Governor Lawton Chiles proclaimed two days in her honor for her leadership role in the marketing industry. Mrs. Shirley Lewenberg has proven herself as an effective fund-raiser for numerous organizations. For the past several years, Mrs. Lewenberg has been involved with the American Cancer Society's Jail and Bail event, exceeding the nonprofit's fund-raising goals many times. Additionally, she has held the Area Agency on Aging's Fund-raising Co- Chair position, and has been honored as Volunteer of the Year. Ms. Mary Macomber is involved with a variety of charitable causes which improve the quality of life of all for all Broward County residents. Ms. Macomber is actively involved with the Coordinating Council of Broward (CCB); serving as Chair of the Steering Committee, Multicultural Board, and Million Meals Committee. Ms. Macomber also gives her time to the City of Coral Springs Multicultural Advisory Board, South Florida Human Rights Council, and she is the Vice Chair of the Noble A. McArtor Adult Day Care Advisory Council. Mr. Matt Meadows is a Past President of the Area Agency on Aging's Board of Directors and a has served as member of the Alzheimer Association's Board of Directors since 1996. Mr. Meadows has served on the City of Lauderhill's City Commission for 6 years and has served as a Board Member for both the Broward and the Florida League of Cities Boards. Mr. Meadows has also worked extensively to benefit South Florida's minority populations through his work with the Florida Commission on Minority Health, the Florida Commission on Minority Economic and Business Development and the Florida Commission of African American Affairs. Ms. Betty Priscak has been involved with numerous charitable organizations including Sunshine Cathedral Board of Directors, the Jail Ministry, the Women's Guild, SAGE, Hollywood Humane Resource Advisory Board, Seniors and Law Enforcement Together, and the American Cancer Society. Ms. Priscak has also been an active volunteer at the Noble A. McArtor Adult Day Care Center, serving on the Sponsorship and Publicity/Advertising Subcommittees of the Advisory Council. Ms. Esther Schneiderman has worked with the Hollywood Hills Nursing Home for over 12 years. She has been recognized by the Home as ``Volunteer of the Year,'' and the Miami Herald has awarded her Honorable Mention for its Good Neighbor Award. Ms. Schneiderman has been involved with Hospice and Deborah Heart and Lung Center. She has also been recognized for her 15 years of service to the Retired Senior Volunteer Program (RSVP). Ms. Shelly Spivak has devoted herself to a variety of charitable causes, while also maintaining a full-time career. Ms. Spivak has volunteered her time for the Governance Council of the United Jewish Community, the West Broward Unit Issues Committee of the American Cancer Society, the Allocation Committee of United Way of Broward, the Unit Board of the Boys and Girls Club of Hollywood, and the Cities in Schools of Broward County School Board. Mrs. Mary Todd has been an active member of the Broward County Medical Association Auxiliary for over one quarter of a century, while serving as Chair, Vice Chair, Secretary and Corresponding Secretary. Mrs. Todd is also a dedicated Board Member for the Areawide Council on Aging. Mr. Speaker, for their dedicated service to the community, I wish to once again recognize these eleven outstanding seniors, who have been elected to the Dr. Nan S. Hutchinson Broward Senior Hall of Fame for 2005.

Mr. SHAW

Mr. SHAW. Mr. Speaker, I thank the gentleman for yielding me this time. Listening to the debate that we have listened to from the other side, the sole argument seems to be that it only applies to a small amount of our population, the wealthiest among us. We know that, but I have yet to hear anybody to justify, to give us a good reason to say this is a good and fair tax and here is why. It seems to be that the argument is being centered around the punitive basis. Let us go after the rich guys. Let us go after them and do something. I am in favor of the Hulshof bill to repeal the death tax simply because it is the right thing to do. The death tax is wrong. To go in and tax almost half of someone's estate because they have accumulated a lot and to make death an incident of taxation is wrong. It is a wrong tax, and I cannot imagine anybody getting up and justifying it, other than the fact it is a revenue stream to the Federal Government, but it is the wrong one.

Mr. SHAW

Mr. SHAW. Mr. Speaker, my wife, Emilie, and I are deeply saddened to learn of the passing of Congressman Bill Lehman. I will always remember his good sense of humor, his leadership and his unrivaled sense of duty. He had a reputation of having the courage and conviction to do what was right for his constituents, and his country. Bill was a good friend, and was a political mentor when I first came to Washington. He led a remarkable life; from his service to his community to his strong leadership in Congress. Bill was the Chairman of the Transportation Subcommittee of the House Appropriations Committee. Many of the transportation facilities in South Florida are a direct result of his tireless efforts as Subcommittee Chairman. Bill will be missed by so many, but has left an extraordinary legacy. His family will remain in our thoughts and prayers.

Mr. SHAW

Mr. SHAW. Mr. Speaker, I ask unanimous consent that it may be in order at any time on Wednesday, April 6, 2005, for the Speaker to declare a recess, subject to the call of the Chair, for the purpose of receiving in joint meeting His Excellency, Viktor Yushchenko, President of Ukraine.

Mr. SHAW

Mr. SHAW. Mr. Speaker, I want to introduce to my colleagues someone that they may already know, Ida May Fuller. Ida May was the recipient of the first Social Security check ever issued. In 1940, the year Ida May began collecting, Social Security was a dream come true for retiring Americans. For every Ida May, there were 42 younger workers contributing to her retirement. Ida May worked under Social Security for 3 years, paid in $24 and got more than $22,000 in benefits. Ida May Fuller got one heck of a deal. Fast forward now to 2005, March 15, 2005, the day that my 15th grandchild was born, Keegan Riley Shaw. Today, there are only three workers supporting each retiree; and soon, it will dwindle to two. If we do not act now to save Social Security, when Keegan walks across the stage at his college graduation, a diploma will not be the only thing he is handed. Try a $600 billion-a-year tax hike. And when Keegan retires and goes to his mailbox to get his Social Security check, unlike Ida May, he will be opening a giant IOU. I am fighting so that my grandchildren, and every grandchild in America, have a secure retirement, just like Ida May. Let us start talking about the next generation, not the next election.

Mr. SHAW

Mr. SHAW. Mr. Speaker, today, my wife Emilie and I are celebrating the arrival of our 15th Grandchild--Keegan Riley Shaw. This morning at 7:51 a.m., two days before St. Patrick's Day, our son and daughter-in- law, J.C. and Angela Shaw, gave birth to this 7-pound, 10-ounce baby boy. There is a special bond between Grandparents and Grandchildren. We are truly blessed.

Mr. SHAW

Mr. SHAW. Mr. Speaker, at the urging of the Democrat leadership in the Congress, political campaign veterans have formed a new liberal group that plans to raise $25 to $50 million to pressure lawmakers to vote against any Social Security plan that includes prepaid individual retirement accounts. With straight faces, the Democrats call themselves ``Americans United to Protect Social Security.'' They say: ``The President and his supporters in Congress are messing with the third rail of politics; and we're going to be sure they get zapped'' good. Mr. Speaker, this is about our children. The greatest disservice to our children and grandchildren would be to give in to groups like this who claim there is no problem and who simultaneously use Social Security as a political club to beat down those of us who would dare to strengthen it. House Democrats have become the party of noes, and they are led by ``Minority Leader No.'' If we do nothing, as some Democrats would have it, today's young workers and future workers will face benefit reductions, payroll tax increases and unprecedented debt. Mr. Speaker, we should be worried about the next generation, not simply the next election.

Mr. SHAW

Mr. SHAW. Mr. Speaker, I rise today to recognize the 50th anniversary of the founding of the Town of South Palm Beach, Florida. Since 1992, I have had the distinct pleasure to represent the residents of this lovely community, and would like to share with you some of the town's attributes and history. Located in Palm Beach County, the Town of South Palm Beach is nestled in one of Florida's many barrier islands. Rich in natural beauty, South Palm Beach shares its eastern border with the Atlantic Ocean, and its western border with the Florida Intracoastal Waterway. The town's colorful history dates back to 1948, when two Finnish brothers from New York, Amos and Anton Askila, settled in the area. Enamored with South Florida's beauty, the Askila brothers set out for Tallahassee in 1955 to obtain a charter for the town. At the time, there were only 6 full time residents, including the Askila brothers, Robert Coletti, James Sloan and Mr. and Mrs. George Woods. The Askila brothers successfully incorporated the town during their 1955 trip to Tallahassee and, that same year, Mr. George Woods was elected as South Palm Beach's first mayor. Today, reflecting on 50 years of history since the town's incorporation, it is clear that future generations of South Floridians have much for which to be thankful. Over the years, South Palm Beach's residents have worked diligently to preserve its residential character, friendly atmosphere and overall high quality of life. I also know that South Palm Beach's nearly 3,000 residents are working hard every day to carry on this tradition, ensuring that South Palm Beach continues to serve as a model community for other towns throughout Florida. On behalf of Florida's 22nd Congressional District, in honor of the town's 50th anniversary celebration, I wish to recognize and commend the Town of South Palm Beach for its longstanding commitment to excellence in South Florida.

Mr. SHAW

Mr. SHAW. Mr. Speaker, I thank the gentleman for yielding me this time. Mr. Speaker, it is difficult to express in words the feeling that we have outpouring here this evening for Tillie and our remembrance of her. She was always strong but gentle, brilliant yet reasonable. She had all of the types of things that we really need to look for in our leaders. Emily, my wife, and I had a very unique relationship with Tillie. When married Members come to Congress, they are assigned by the congressional spouses what we call a little brother or little sister. And Emily loved to remind Buck that he was her little brother. We had a friendship that went beyond being just colleagues; it went outside of this Chamber, outside of this Capitol. The friendship that evolved is one that I will always remember. We had a service down in Jacksonville just a few days ago. Two plane loads came down to be at that service from both the Pentagon as well as from this great body here. The outpouring that we saw in that community was really beautiful. The military was there. Both sides of the church were flanked by soldiers from all of the services, and the service ended up with a flyover, which I am sure Tillie would have loved. I remember the preacher in that small church. The church was absolutely full. People were standing in the front yard of the church just to hear the service and be near those so close to Tillie. The preacher talked about one of the greatest gifts man has is your memory. Tillie will always live in our memory. We love her, and we really just absolutely will never forget how wonderful she was and what a great influence she was and how she left her mark permanently on this body, her community and her country.

Mr. SHAW

Mr. SHAW. Mr. Speaker, I rise today to honor Ms. Jasmin Deboo, who was awarded Broward County, Florida's Teacher of the Year. Ms. Deboo has dedicated her life to her 5th Grade students at Deerfield Beach Elementary School for the last 11 years. Ms. Deboo's dedication to her students is quite apparent. She has gone above and beyond the average duties of a teacher by taking on the roles of a surrogate parent and that of counselor helping children deal with personal problems. This style of leadership has allowed Ms. Deboo to become a role model for not only her students, but also for other teachers at her school. Ms. Deboo is a person who has had a positive impact on all those lucky enough to be around her. Today, we recognize Jasmin Deboo for her accomplishments and her dedication to the students of Broward County, Florida. I congratulate Ms. Deboo on being named the 2005 Broward County Teacher of the Year.

Mr. SHAW

Mr. SHAW. Mr. Speaker, whether we live in prosperous or uncertain times, American families need economic security--the kind of economic security that Social Security provides. For 70 years, Social Security has protected workers and their families from falling into poverty if a breadwinner retires, suffers disability, or dies. Social Security has endured, unlike many other government programs, because its architects designed it to be owned by workers and to treat all workers fairly. Social Security has evolved over the decades, strengthening its protections and finances along the way. However, our nation's demographics and economics are fundamentally changing, and Social Security's ability to continue meeting its promises is threatened. The Social Security Guarantee Plus Plan I am introducing today will enable Social Security to continue fulfilling its vital role in the lives of all Americans. First, the Guarantee Plus Plan keeps intact the Social Security safety net. Promised benefits, including cost of living increases, are guaranteed for people receiving benefits today, tomorrow and for all future generations. Second, the plan treats all workers fairly. Workers have paid into the system, it's their money, and we must protect and enhance their investment. It's not fair to workers to raise their payroll taxes or lower their benefits. Nor is it fair for the government to tell workers to work longer. That's why my plan does not raise taxes, does not lower benefits, and does not change the retirement age. Third, Social Security payroll taxes belong to the workers who paid them. My plan gives workers a real ownership stake in Social Security by allowing them to choose to receive a tax cut to invest directly in prudent, individually-selected, market investments. For the first time, a nation of savers, not the government, will own and control the assets backing Social Security. Should an individual die before becoming eligible, the balance of their money will be passed along to their heirs. Fourth, under my plan, Social Security can be counted on for the next 75 years, and beyond. Real assets guarantee current and future benefits, establishing a sound and sustainable financial footing. No longer will there be a need to periodically increase taxes or lower benefits to keep the program working. Beyond keeping these promises to all Americans, we must also do more to improve Social Security for the women of our nation. Because of their longer life expectancies and lower earnings, women are more likely to suffer poverty in old age. Social Security is a vital safety net for these women. In addition, because benefits are based on earnings, women are disadvantaged when they choose to stay home to raise their children. The Guarantee Plus Plan protects our daughters, our mothers, our aunts and our grandmothers, not only by securing the future of Social Security and guaranteeing full benefits, but also by enhancing benefits for widows, divorced spouses, and working mothers. These benefits become available immediately in my bill. Here's how the Social Security Guarantee Plus Plan works. The plan guarantees full, promised, current law benefits for all workers, whether you are 6 or 65. Just as companies must back your pension plan with real assets, the Guarantee Plus Plan saves Social Security by setting aside real assets, not IOUs, to pre-fund benefits. These assets are saved in each worker's own account, thereby providing workers the opportunity to create real wealth for themselves and their families. Workers who choose to participate will receive a refundable credit of up to 4% of their earnings to establish their own Social Security Guarantee Account. Workers, not the government, would select where to invest their Guarantee Account funds. The assets in these accounts would grow tax-free. No withdrawals would be permitted until a worker starts receiving benefits to ensure that the money is preserved for retirement. At retirement or when the worker becomes disabled, a portion of the Guarantee Account is paid directly to the worker and the rest is used to help pay full, guaranteed Social Security benefits. But that's not all. In addition to the much needed improvements in benefits for women I mentioned, my plan eliminates the retirement earnings penalty for all workers age 62 and older and reduces the so-called Government Pension Offset affecting spouse and survivor benefits to certain government workers. Other plans may cost less, because they cut benefits or raise taxes. If our goal is to pay full promised benefits, boost women's benefits, and return Social Security to financial independence, the Guarantee Plus Plan is the lowest-cost proposal to date. The Guarantee Plus Plan does all this and pays for itself over the seventy five-year actuarial period, and that's confirmed by the Social Security Administration's Office of the Actuary in the 108th Congress. Even under the most conservative estimates, the Guarantee Plus Plan allows the new Social Security system to generate surplus cash in the latter part of the century, actually adding black ink to the government's bottom line. My plan uses general revenues to fund the accounts. Even assuming borrowing for a transitional period, my plan pays back every borrowed dollar plus interest within the seventy five-year evaluation period. My plan also requires that Social Security surpluses created by the plan be dedicated to reducing publicly-held debt. Not only would we pay off the mortgage on Social Security, we would leave workers with substantial account balances and the federal government with excess cash. The Guarantee Plus Plan also meets or exceeds all of the President's principles for reform--pays promised benefits to retirees, near- retirees, and all workers; no tax increases; no government investing; fully preserves disability and survivor benefits; offers individually controlled, voluntary personal retirement accounts that will augment Social Security. In addition, my plan is consistent with the first option to establish personal accounts recommended by the President's Commission to Strengthen Social Security. President Bush has made the strengthening of Social Security now and for generations to come a top priority. Americans are showing their willingness to explore new ideas to strengthen this vital program, since the old ways must be improved upon for future generations. Now is the time for a straight-forward, honest and realistic discussion about the future of Social Security. The longer we wait to address the coming crisis, the more difficult and expensive the job will be down the line. From the time of Social Security's enactment until today, the history of the program's evolution has demonstrated that while everybody has his or her own ideas on how to strengthen the program, progress toward that goal is only achieved through bipartisan cooperation. It's long past time for us to lay all our best thoughts on the table and work together to build on our success to make a stronger Social Security system that is an asset to all and not a liability to our children and grandchildren.

Mr. SHAW

Mr. SHAW. Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days within which to revise and extend their remarks on the subject of my Special Order.

Mr. SHAW. Mr. Speaker, President Bush has made it clear that the time has come for an honest, straightforward, realistic discussion about the future of our precious Social Security system. For today's generation of senior citizens, the system is strong and fiscally sound, but younger workers are concerned about whether Social Security will be around for them when they need it. The problem is simple. With an aging population and a steadily falling ratio of workers to retirees, the system is on a course to eventual bankruptcy. Here is the problem, and this is best demonstrated on the graph next to me. Social Security was designed in 1935 for a different world than the one we live in today. It is a pay-as-you-go system in which the benefits go to current retirees and they come directly from the payroll taxes of current workers. When the program was still new in the 1940s, there were 41 workers paying in for every retiree drawing benefits. By 1950, 16 workers paid in for every person drawing out. Today it is about three workers for every beneficiary. And by the time our youngest workers turn 65, the ratio will be down to two workers for each beneficiary. At present, Social Security operates with a substantial cash surplus. In just a few years, when the baby boomers retire and begin collecting benefits, the surplus will begin to decline. Then, in 2018, that is just 13 years away, Social Security will begin paying out more than it receives in payroll taxes. From then on the shortfalls will grow larger and larger every year until 2042 when the Social Security trustees estimate the system will reach fiscal collapse. If we look at this chart, we can see we are here in a surplus situation, but then we get to 2018 and we start to dip down. We still have Treasury bills, and Congress is going to have to find the money to pay benefits. That line continues to go down with ever-increasing deficits for the next 75 years and beyond. I want Members to notice the slope of this line. The further out, the more steep it gets, going down. And look at the figure, that is a $26 trillion deficit in cash flow over the next 75 years. That is unacceptable. At that point, with a projected shortfall in trillions of dollars, the government will have no option other than to suddenly and dramatically reduce benefit payments by over 25 percent or to impose a massive economic, devastating tax increase on all Americans. And I am not talking about 2075, I am talking about right in here. Within 13 years from now, that decision is going to have to be made by a future Congress. The longer we wait to address the coming crisis, the more difficult and expensive the job will be down the line. So together, in this Congress, under the President's leadership, we will save Social Security and we will put it on a path to permanent solvency and stability. To build a strong, workable, bipartisan reform, we must have principles that will guide the effort. First, there must be no changes in Social Security for those now receiving benefits or those who are close to retirement. Today's seniors can be certain nobody is going to touch their Social Security, nobody is going to take away the benefits of today's retirees and the program as they know it; it will stay the same for them. Second, we must not increase the payroll taxes on the backs of American workers. If we were to increase taxes this year to fix Social Security, a family of four with an income of $40,000 a year would see $1,400 disappear from their paycheck. We cannot tax our way out of this problem. This is no longer an alternative. Our third principle is to permit younger workers to have voluntary personal accounts. Regular investment would be made in bonds or stock, or a combination, throughout their careers, and then either use these investments to meet expenses in retirement or leave them as an inheritance to their children or grandchildren. Social Security's future is more than a problem to be solved. It is also a tremendous opportunity for all of our citizens to become owners and investors. Many low-income workers who have nothing to spare after taxes would have a chance to begin saving for their later years. Personal accounts give Americans a retirement fund they control themselves and can call their own. Everyone deserves a chance to live the American dream, to build up savings and wealth, and to have a nest egg for retirement that no one can ever take away from them, not even the government. Young workers who elect personal accounts can expect to receive a far higher rate of return on their money than the current system can ever afford to pay them. For example, if a 25-year-old invested $1,000 per year for 40 years in Social Security's 2 percent rate of return, in 40 years she would have over $61,000. But if she invested the money in the stock market earning even at its lowest historic rate of return, she would earn more than double that amount, $160,000. If the individual earned the average historical stock market rate of return, she would have more than $225,000 or nearly 4 times the amount to be extracted from Social Security. Over time, the securities markets are the best, safest way to build substantial personal savings, and this is with widespread investments, not putting your money in one stock. These are wide investments and it is done professionally through investment houses. Having your own account for Social Security is purely a voluntary option. We are confident, however, that millions of Americans will find this option attractive. I cannot imagine any young person not taking this option. Another argument against Social Security reform with a voluntary personal account is that the so-called transition costs will be too high. There will be costs no matter what we decide. Social Security's trustees report that each year we wait will add roughly $600 billion to the cost of fixing Social Security for good. That cost is far in excess of any of the so-called transition costs that have been projected for any of the plans put forward by Members of Congress. I would say here that we should also look at the cost of inaction, the cost of doing nothing: A $26 trillion deficit over the next 75 years. What kind of a legacy is that to leave to our children and grandchildren? We will need bipartisan commitment in the months ahead, yet we should not expect the work to be easy. Some have used this issue for political gains, but we should all understand that it is disgraceful to play politics with our children's future. Let us look back a few years to the previous administration where we see that President Clinton said at the State of the Union address on January 21, 1998, ``We will hold a White House conference on Social Security in December, and 1 year from now I will convene the leaders of Congress to craft historic bipartisan legislation to achieve a landmark for our generation, a Social Security system that is strong in the 21st century.'' I went to that conference and we started to gather bipartisan support, but let us see what the Democrats said after that conference. Hillary Clinton, ``One of the most critical challenges of our time is preserving and strengthening Social Security for future generations.'' First Lady Clinton said this at a White House event on Social Security on February 17, 1999. And then Senator Kennedy said on ABC This Week on July 11, 1999, ``The President has it right, and it is a position that I think virtually all of the Democrats support in the Senate, protect Social Security.'' I might say also this was partly made up of individual accounts, personal accounts that President Clinton championed. But the one I like perhaps the best, the Senate minority leader when he said on Fox News Sunday on February 14, 1999, ``Most of us have no problem with taking a small amount of the Social Security proceeds and putting it into the private sector.'' This is what the leaders said then. What has happened now? Now we find that we have leadership that has dug in and is prohibiting their Members to even cooperate across the aisle, cooperate with Republicans, in saving this most important part of our government. Social Security is a sacred trust, something that we all can rely on as we grow older. It is one that we know our parents enjoyed and our kids will enjoy, and we want it for our grandchildren also. There is no excuse for our not getting together and working together. It is more important to save Social Security for future generations than worry about who is going to be the next Speaker of the House of Representatives in 2006. It is disgraceful to do otherwise. Mr. Speaker, at this time I yield to the gentleman from Mississippi (Mr. Wicker).

Mr. SHAW. The gentleman from Mississippi (Mr. Wicker) is absolutely correct and understands it perfectly.

Mr. SHAW. Mr. Speaker, I say to the gentleman that he is absolutely right on target. It is not a question of can; it is a question of must. We must do this. And I would say from a very bipartisan way that if any of our colleagues on the other side of the aisle, the minority party, if they have an idea that they want to discuss, bring it over. I will be glad to talk. I have chaired this Subcommittee on Social Security for 6 years. I am no longer the Chair. The gentleman from Louisiana (Mr. McCrery) is now the Chair; the gentleman from California (Mr. Thomas) the Chair of the full committee. They are looking for ideas, and they are leaving the doors open for new ideas. So the Democrats cannot complain about being left out in the cold on this because we are soliciting their support. We are reaching out to them, and we want them to come down and come down with some good ideas. Not just come down and start throwing rocks at us. Come down with something positive. One cannot possibly debate these fiscal facts. This is what we are heading for. And these are not Republican figures that we are looking at. This has been done by the Social Security Administration, and we had the same graph when President Clinton was President. So this is not a Republican-created bankruptcy or crisis. This is an actual crisis that is out there just because we are not having as many kids as we used to have and we are living longer. There are a lot of good things to say about that, but when one starts talking about somebody to care for them in their old age, that is not a good deal. So we need to start forward-funding the system. We need to go to areas where we can actually make more than we would under the existing system. Mr. Speaker, I yield to the gentleman from Texas (Mr. Brady), a very valuable member of the Committee on Ways and Means.

Mr. SHAW. Mr. Speaker, reclaiming my time, it is really sad to say that we only have one Democrat in the House today that had the courage to come forward and defy his leadership. And I might say that that particular Member, who is from the State of Florida, now has had a campaign run against him in his position in his district by a Democrat pack. To me that is absolutely unconscionable. And I am glad the gentleman held those dollars up. I heard a town hall meeting on C-SPAN just recently by one of the Members, and he kept referring to cash in the trust fund. That is a myth. There is no cash in the trust fund. The trust fund is made up of Treasury bills, and we are going to be in a position where we are going to have to start cashing those in in 2018. And he talks about the cash, the Congress is going to have to find the cash in order to pay the benefits.

Mr. SHAW. Yes, as sad as that is. There are some bright people on the other side of the aisle that could really help us get this thing done. When I did welfare reform back in 1996, we finally got some help from the other side and President Clinton signed the bill. And that was one of the greatest pieces of social legislation that has come out of the Congress, I think, in the last couple of decades. It was late coming, but it came and we were able to do that. But in order to have the confidence of the American people, this has to be done in a bipartisan way.

Mr. SHAW. Mr. Speaker, I thank the gentleman for his contribution. Mr. Speaker, I yield to the gentleman from Georgia (Mr. Kingston).