†
HCON 95 EAS
(5) If commodity prices decline, as projected by
the Congressional Budget Office over the next several
years, agricultural programs will be even more im-
portant to the economic future of small- and medium-
sized family farms.
(b) SENSE OF THE SENATE.—It is the sense of the Sen-
ate that any reconciled mandatory agriculture savings re-
quired under this resolution should be primarily achieved
through modifications to the payment limitation provisions
of the Food Security and Rural Investment Act of 2002.
SEC. 510. SENSE OF THE SENATE REGARDING SOCIAL SECU-
RITY RESTRUCTURING.
(a) FINDINGS.—The Senate finds that—
(1) Social Security is the foundation of retire-
ment income for most Americans;
(2) preserving and strengthening the long term
viability of Social Security is a vital national pri-
ority and is essential for the retirement security of to-
day’s working Americans, current and future retirees,
and their families;
(3) Social Security faces significant fiscal and
demographic pressures;
(4) the nonpartisan Office of the Chief Actuary
at the Social Security Administration reports that—
†
HCON 95 EAS
(A) the number of workers paying taxes to
support each Social Security beneficiary has
dropped from 16.5 in 1950 to 3.3 in 2002;
(B) within a generation there will be only
2 workers to support each retiree, which will sub-
stantially increase the financial burden on
American workers;
(C) without structural reform, the Social
Security system, beginning in 2018, will pay out
more in benefits than it will collect in taxes;
(D) without structural reform, the Social
Security trust fund will be exhausted in 2042,
and Social Security tax revenue in 2042 will
only cover 73 percent of promised benefits, and
will decrease to 68 percent by 2078;
(E) without structural reform, future Con-
gresses may have to raise payroll taxes 50 per-
cent over the next 75 years to pay full benefits
on time, resulting in payroll tax rates of as
much as 16.9 percent by 2042 and 18.3 percent
by 2078;
(F) without structural reform, Social Secu-
rity’s total cash shortfall over the next 75 years
is estimated to be $3,700,000,000,000 measured
in present value terms; and
†
HCON 95 EAS
(G) absent structural reforms, spending on
Social Security will increase from 4.3 percent of
gross domestic product in 2004 to 6.6 percent in
2078; and
(5) the Congressional Budget Office, the Govern-
ment Accountability Office, the Congressional Re-
search Service, the Chairman of the Federal Reserve
Board, and the President’s Commission to Strengthen
Social Security have all warned that failure to enact
fiscally responsible Social Security reform quickly
will result in 1 or more of the following:
(A) Higher tax rates.
(B) Lower Social Security benefit levels.
(C) Increased Federal debt or less spending
on other federal programs.
(b) SENSE OF THE SENATE.—It is the sense of the Sen-
ate that—
(1) the President, the Congress, and the Amer-
ican people including seniors, workers, women, mi-
norities, and disabled persons should work together at
the earliest opportunity to enact legislation to achieve
a solvent and permanently sustainable Social Secu-
rity system;
(2) Social Security reform—
†
HCON 95 EAS
(A) must protect current and near retirees
from any changes to Social Security benefits;
(B) must reduce the pressure on future tax-
payers and on other budgetary priorities;
(C) must provide benefit levels that ade-
quately reflect individual contributions to the
Social Security system; and
(D) must preserve and strengthen the safety
net for vulnerable populations including the dis-
abled and survivors; and
(3) the Senate should honor section 13301 of the
Budget Enforcement Act of 1990.
SEC. 511. SENSE OF THE SENATE THAT FAILING TO AD-
DRESS SOCIAL SECURITY WILL RESULT IN
MASSIVE DEBT, DEEP BENEFIT CUTS AND TAX
INCREASES.
It is the sense of the Senate that Congress should reject
any Social Security plan that requires deep benefit cuts or
a massive increase in debt, and a failure to act would result
in massive debt, deep benefit cuts and tax increases.
SEC. 512. SENSE OF THE SENATE REGARDING THE STATE
CRIMINAL ALIEN ASSISTANCE PROGRAM.
(a) FINDINGS.—The Senate finds the following:
(1) Control of illegal immigration is a Federal
responsibility.