Senator Grassley made the following comment in reaction to President Clinton's remarks today on Social Security reform. The President made two points I was pleased to hear. First, he acknowledged the high poverty rate among elderly women. We have to consider the unique circumstances of women in our efforts to reform Social Security.
Women live longer than men, earn less money and re-enter the workforce more often.
Therefore, they have different needs under Social Security. The idea of introducing individual accounts into Social Security poses specific considerations for women. We plan to explore these considerations at a hearing of the Special Committee on Aging on Feb. 22. Some issues we'll examine include women's investment strategies and the effects of leaving the workforce for family care. I believe our hearing will contribute substantially to the Social Security debate by exploring these new issues.