# The Safe Commission: Letters to Treasury Secretary Paulson

THE SAFE COMMISSION: LETTERS TO TREASURY SECRETARY PAULSON
 ______  
 HON. FRANK R. WOLF
 of virginia
 in the house of representatives
 Thursday, January 15, 2009
 Mr. WOLF. Madam Speaker, I continue to be deeply concerned about
America's mounting deficit spending and Federal debt and have been
working for the past several years to engage this administration in
embracing a bipartisan plan to reverse course and get our country on a
sound and sustainable financial path.  I introduced the SAFE Commission concept for the first time during
the 109th Congress on June 7, 2006. In the 110th Congress I teamed with
Jim Cooper, and we introduced the bipartisan SAFE Commission
legislation again. A similar Senate effort was led by Budget Chairman
Kent Conrad and ranking member Judd Gregg.  Following the SAFE bill's introduction, I reached out to Treasury
Secretary Paulson about getting our fiscal house through more than a
dozen letters from July 12, 2007, to April 10, 2008, updating the
administration on progress that was being made with the bill. I submit
for the Record a sample of that correspondence.  I have been encouraged with the growing support for the SAFE proposal
from leading newspaper editorials to think tanks to syndicated
columnists to business organizations. I
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remain deeply disappointed that this idea was not embraced by Secretary
Paulson. I hope that the Obama administration will understand the
urgency for bipartisan action to address this nation's long-term budget
challenges, especially as we deal with the current financial crisis,
for the sake of our children and grandchildren.
 House of Representatives,
 Washington, DC, July 12, 2007.  Hon. Henry Paulson,  Secretary, Department of the Treasury,  Washington, DC.  Dear Secretary Paulson: As you know, Senator Voinovich and
 I reintroduced the Securing America's Future Economy (SAFE)
 Commission Act in January. I wanted to follow up with you and
 share the enclosed letter I wrote to the president asking
 that the administration embrace this idea.  I think about our children and grandchildren and it is
 disheartening that critical issues are falling by the wayside
 because Congress today is so polarized. I believe that a
 bipartisan commission operating outside the halls of Congress
 that would mandate action is the answer to getting our fiscal
 house in order and diverting financial crisis in this
 country.  The SAFE Commission bill has 32 cosponsors to date. I am
 committed to continue working with my colleagues to enact
 this legislation on a matter of such importance to our
 nation's future.  Best wishes.  Sincerely,  Frank R. Wolf,  Member of Congress.  ____  
 House of Representatives,
 Washington, DC, August 3, 2007.  Hon. Henry Paulson,  Department of the Treasury,  Washington, DC.  Dear Secretary Paulson: I read your recent comments about
 reaching the statutory debt limit as early as October. I have
 always voted for the limit increase but am seriously
 considering voting against it this year because of the lack
 of leadership by the administration in taking steps to change
 the country's current financial path. I truly believe that
 this administration has the ability to change our course.  I am not writing to you today as a Republican or a
 Democrat, but as a father and grandfather. Lawmakers on both
 sides of the aisle understand the enormity of this issue and
 the impact that will be felt for generations to come. It's
 disheartening that the partisan political divide in Congress
 is so consuming that issues with such high stakes continue to
 languish.  That's why I have introduced the Securing America's Future
 Economy (SAFE) Commission Act, which would establish a
 bipartisan commission and put everything--entitlement, tax
 policy, and other federal spending--on the table for review.  This administration can offer hope and start to remedy our
 fiscal prognosis, brightening the horizon for our children
 and their children. It is critical that they have all the
 opportunities the Greatest Generation made possible for you
 and me. Our grandchildren should set ambitious goals, and
 believe that hard work will be met by opportunity.  We have a moral obligation to address the long-term fiscal
 challenges ahead.  I know you are a good person and want what is best for
 America. With your leadership and vision, progress can be
 made.  Best wishes.  Sincerely,  Frank R. Wolf,  Member of Congress.  ____
 House of Representatives,
 Washington, DC, October 22, 2007.  Hon. Henry Paulson,  Department of the Treasury,  Washington, DC.  Dear Secretary Paulson: Just wanted to update you on the
 SAFE Commission legislation since I reintroduced the bill
 with Jim Cooper three weeks ago.  The measure has gained bipartisan support with over 40
 cosponsors--split evenly between Democrats and Republicans
 from members of the Republican Study Committee to three of
 the four Blue Dog Coalition co-chairs I believe that support
 for this measure will continue to grow.  You may have read that the first baby boomer signed up for
 promised Social Security benefits last week. Our nation's
 "long term" deficit problem has arrived.  We should he concerned that last Monday the U.S. dollar hit
 an all-time low in the wake of a major housing recession and
 enormous trade deficits. We should care that the value of the
 dollar has been dropping against the Canadian dollar, the
 Euro and the Japanese yen.  What will it take for us to address these issues?  The SAFE Commission fits into what this administration
 claims to stand for and will ensure sound financial footing
 for generations to come. I have enclosed information on the
 bill since its reintroduction including a list of current
 cosponsors.  Please give serious consideration to the SAFE Commission
 Act.  Best wishes.  Sincerely,  Frank R. Wolf,  Member of Congress.  ____
 House of Representatives,
 Washington, DC, October 25, 2007.  Hon. Henry Paulson,  Secretary, Department of the Treasury,  Washington DC.  Dear Secretary Paulson: As meritorious as the
 Administration's argument is with regard to the $21 billion
 in discretionary spending it is relatively insignificant
 compared to the massive entitlement spending problem. It is
 like comparing a mouse to an elephant.  Our SAFE Commission bill represents all that the
 Administration says it cares about, including more than 50
 bipartisan cosponsors (see list).  Failing to address this issue is like driving a car toward
 the edge of a cliff with no brake pedal.  Best wishes.  Sincerely,  Frank R. Wolf,  Member of Congress.  ____
 House of Representatives,
 Washington, DC, November 1, 2007.  Hon. Henry Paulson,  Department of the Treasury,  Washington DC.  Dear Secretary Paulson: I am deeply troubled that this
 Administration is missing an opportunity to do something so
 powerful for our children and grandchildren.  Best wishes.  Sincerely,  Frank R. Wolf,  Member of Congress.  ____
 House of Representatives,
 Washington, DC, November 14, 2007.  Hon. Henry Paulson,  Department of the Treasury,  Washington, DC.  Dear Secretary Paulson: As a follow up to our conversation
 last week about the SAFE Commission. I want you to know that
 Roy Blunt has also signed onto the bill.  The Cooper-Wolf SAFE Commission has over 50 bipartisan
 cosponsors including Republican leadership in the House (see
 enclosed).  We are waiting for the Administration to support this
 effort to rein in entitlement spending.  Best wishes.  Sincerely,  Frank R. Wolf,  Member of Congress.  ____
 House of Representatives,
 Washington, DC, December 5, 2007.  Hon. Henry Paulson,  Department of the Treasury,  Washington, DC.  Dear Secretary Paulson: Enclosed is a letter I recently
 received from Ben Bernanke about our nation's fiscal
 imbalance, reiterating. ". . . if early and meaningful
 action is not taken, the U.S. economy could be seriously
 weakened, with future generations bearing much of the cost."  Your administration deserves credit for its work in the
 past to address the entitlement reform issue. Our parents
 told us that if at first you don't succeed, try, try again. I
 am asking that the SAFE Commission be that second try.  Best wishes.  Sincerely,  Frank R. Wolf,  Member of Congress.  ____
 House of Representatives,
 Washington, DC, January 17, 2008.  Hon. Henry Paulson,  Department of the Treasury,  Washington, DC.  Dear Secretary Paulson: Between July 19 and December 10,
 2007, I wrote to you nine different times about the
 unsustainable financial path our country is on, and the
 bipartisan SAFE Commission as a potential way forward to rein
 in entitlement spending. I have respectfully asked for the
 administration's support because of the critical importance
 of taking action now.  I am disappointed that the administration is missing this
 opportunity to bring about a renaissance in America, giving
 hope to future generations and ensuring that our children and
 grandchildren can live in a world where hard work will be met
 by opportunity.  Best wishes.  Sincerely,  Frank R. Wolf,  Member of Congress.
 ____________________
This work is in the public domain in the United States because it is a work of the United States federal government (see 17 U.S.C. 105).
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