PRINTER'S NO. 2727
No. 312 Session of 1997
INTRODUCED BY BARRAR, ADOLPH, THOMAS, ARGALL, GEORGE, BOSCOLA, MELIO, FICHTER, FARGO, HALUSKA, READSHAW, ROSS, PESCI, BUNT, TRELLO, LAUGHLIN, HENNESSEY, YOUNGBLOOD, OLASZ, ROBERTS, STABACK, ORIE AND RAYMOND, DECEMBER 16, 1997
REFERRED TO COMMITTEE ON INTERGOVERNMENTAL AFFAIRS, DECEMBER 16, 1997
A RESOLUTION 1 Memorializing the President of the United States and Congress to 2 support and approve legislation to promote and encourage 3 economic security. 4 WHEREAS, The nation's Social Security system is currently 5 headed for bankruptcy due to an increasing shift in the 6 country's demographics causing the current system to begin to 7 run large deficits starting in the year 2012; and 8 WHEREAS, Savings and investment in the United States continue 9 to decrease at alarming rates; and 10 WHEREAS, Most American families are working harder to make 11 ends meet and have nothing left for savings; therefore be it 12 RESOLVED, That the House of Representatives of the 13 Commonwealth of Pennsylvania memorialize the President of the 14 United States and Congress to support and approve legislation to 15 promote and encourage economic security; and be it further 16 RESOLVED, That the legislation reflect the following: 17 (1) the Federal Government must honor its obligations to
1 current retirees who depend on Social Security; 2 (2) a Social Security safety net needs to be maintained 3 so that no beneficiary is forced to live in poverty; 4 (3) a system should be created that allows workers to 5 build savings for their retirement and earn interest on their 6 savings and increases capital ownership for all Americans; 7 (4) any system created should provide savings 8 incentives, thus increasing the nation's savings and 9 investment rates and the prosperity of the United States; and 10 (5) America's "grass roots" should be educated to 11 understand the challenges facing the current system and the 12 options for reform; 13 and be it further 14 RESOLVED, That copies of this resolution be transmitted to 15 the President of the United States, to the presiding officers of 16 each house of Congress and to each member of Congress from 17 Pennsylvania. K12L82DMS/19970H0312R2727 - 2 -