So I just want to assure you this issue is on my mind a lot. I like to remind people that the job of a President is to confront problems, no matter how difficult they may look, and not pass them on to future Presidents.

The biggest problem we've got, however, is -- for our budgetary health -- is the entitlement spending programs like Social Security and Medicare. If we're wise about keeping pro-growth policies in place and fiscal restraint, we can get this deficit down. We're on a trajectory to do so by -- cut it in half by 2009. But there's a large problem looming out there, and it's because baby boomers like me -- and you -- (laughter) -- well, some of you -- are getting ready to retire. We're getting to that age where the government has made us a promise. And there's a lot of us. There's a lot of baby boomers. There's a baby boomer bulge -- in more ways than one. (Laughter.) And we're living longer than anybody thought when they first designed these programs.And I don't know about you, but I like to get exercise, I'm wise about the choices I make in terms of drinking and all that. And as a result -- and medicine has improved -- we're living longer lives. So you've got a lot of people getting ready to retire who are going to live longer lives, and we've been promised greater benefits than the previous generation. People running for office say, vote for me, I promise to increase your benefits in these entitlement programs. And sure enough, they won, and did what they said they were going to do. But the problem is, is that there are fewer payers per beneficiary into the system than ever before. In other words, there is a heavy burden on a young generation of Americans coming up to pay the promises that Congress has made. And I really, really think that Congress has got to address this issue with me. I tried last year, I took it on, Social Security in particular, and went around the country saying, folks, we got a problem -- on the theory that when the people said we got a problem, Congress would respond. Well, I got half of it right. (Laughter.) People said, we got a problem. And it's so political up here that it's difficult at this stage of the game to get people to come together, to come with a bipartisan solution. Look, we don't have to cut programs. It's like making sure you slow your car down to the speed limit. You don't have to put it in reverse. There are common-sense ways to keep the promises to the generation that is fixing to retire, but make sure that future generations will have a sound Social Security and Medicare system. So I just want to assure you this issue is on my mind a lot. I like to remind people that the job of a President is to confront problems, no matter how difficult they may look, and not pass them on to future Presidents. I also believe -- (applause.) So we're in the process of working with Democrats and Republicans to come together to forge a bipartisan solution so that we can say we did our duty, that we came and we made the system work better. It's a really important issue. And so when you hear people talking about the budget, the current account deficit is important, it's really important. But these unfunded liabilities will serve to be a major drag on our economy if we don't do it now. Now is the time to do it. The longer we wait, the more difficult it's going to be for people to come together. So you'll see me working with Democrats and Republicans, hopefully, to come up with a solution that will address this problem.

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Posted by Jeremy Tunnell