For Immediate Release
Office of the Press Secretary
June 11, 2005
President's Radio Address
Audio
THE PRESIDENT: Good morning. As we enter the summer season, my
administration is working hard to keep our economy growing and creating
jobs. Next week, I will talk about some of my plans to help American
families achieve long-term economic security.
On Tuesday, I will discuss Social Security reform with young people
in Pennsylvania. I will remind them that the Social Security system
is in good shape for their grandparents and for anybody born prior to
1950. I will also tell them that we must act now to strengthen and
modernize Social Security so these young people can have a secure
retirement. Our young people understand that if we fail to act, Social
Security will not be sound when they need it. They know that the
millions of baby boomers about to retire will live longer and collect
benefits that the system cannot afford.
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As we make Social Security permanently sustainable, we must also
make it a better deal for younger workers, by allowing them to set
aside a portion of their payroll taxes in voluntary personal savings
accounts. These accounts would provide the opportunity to earn a
higher rate of return than the current system can offer. Personal
accounts would contribute to the economic security of Americans by
allowing them to build up a real nest egg, something they own and can
pass on to their spouse or children, and that government cannot take
away.
On Wednesday, I will address the Energy Efficiency Forum here in
Washington, and renew my call for Congress to act on the energy plan I
proposed four years ago. Today's high energy prices are like a tax
that drags on our economy. We must ensure that American families and
small businesses have access to a reliable supply of affordable
energy. My energy strategy will lessen our dependence on foreign oil
by encouraging conservation, promoting domestic production in
environmentally friendly ways, and funding promising new sources of
energy such as hydrogen, ethanol, and biodiesel. It will also
modernize our aging electricity grid.
The House has passed a good energy bill; now the American people
expect the Senate to act. For the sake of our economic and national
security, Congress needs to get a good energy bill to my desk by
August.
On Thursday and Friday, I will discuss a key element of ensuring
health care security for our nation's seniors. The Medicare
modernization bill I signed into law in 2003 created a new prescription
drug benefit, so our seniors could have more choices and receive the
affordable modern health care they deserve. This voluntary benefit
begins next January, and seniors will be eligible to enroll starting
this November. The plan will provide many options for dependable
prescription drug coverage through Medicare. During the coming months,
we will work to educate all of our seniors about this new benefit, so
they can choose confidently the drug plan that best meets their needs.
Finally, to ensure economic security for all Americans, Congress
needs to keep your taxes low and be wise with taxpayers' dollars. I
proposed, and the House and Senate passed, a responsible budget
resolution that meets our priorities and keeps us on track to cut the
deficit in half by 2009. The weeks ahead will bring important
decisions on government spending, including the highway bill. Congress
needs to soon send me a fiscally responsible highway bill that
modernizes our roads and bridges and improves safety and creates jobs.
Achieving economic security for all Americans requires us to
confront challenges now, not pass them on to future generations. In the
coming weeks I will work with Congress on all these priorities, so we
can strengthen our nation's prosperity for generations to come.
Thank you for listening.
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