But with a rate of return of 1.6 percent or less, or a negative rate of return, our children and our grandchildren, if we do not make changes, will in fact not have a secure retirement. Indeed, they will not have the funds when they go to retire to even minimally get by.

As I think all Americans understand on both sides of the aisle, the Social Security system as it is structured today is a pay-as-you-go system.

American consumers benefit from free trade and investment.

If the United States is to protect itself from the economic and the political threats created by this excessive dependence, we must reduce our reliance on foreign energy sources and on foreign oil as quickly and as efficiently as possible.

Most previous immigrants came to the United States to become Americans, with no intention of returning home. They relinquished their ties with their homeland. English was their key to prosperity, and they worked hard to master it.

Indeed, I think most Americans now know that in 1935 when Social Security was created, there were some 42 Americans working for every American collecting retirement benefits.

Germany, I think, was first to substitute a Social Security program for its elderly based on this premise, that is, that we would tax workers to pay retirement benefits for those retired.