SENATE JOINT RESOLUTION NO. 13

INTRODUCED BY S. DOHERTY, R. BUZZAS, T. DELL, J. ELLINGSON, D. EWER, T. FACEY, E. FRANKLIN, S. GALLUS, K. GALVIN-HALCRO, K. GILLAN, G. GUTSCHE, D. HARRINGTON, G. JERGESON, C. JUNEAU, R. LENHART, L. NELSON, T. SCHMIDT, S. STANG, E. SWANSON, J. TESTER, J. TROPILA, C. WILLIAMS, D. WYATT, B. RYAN

A JOINT RESOLUTION OF THE SENATE AND THE HOUSE OF REPRESENTATIVES OF THE STATE OF MONTANA URGING CONGRESS TO PROVIDE FOR SOUND, LONG-TERM FUNDING OF THE UNITED STATES SOCIAL SECURITY PROGRAM WITHOUT RESORTING TO PRIVATIZATION.

WHEREAS, the trustees of the United States Social Security Administration reported that beginning about the year 2029, the Social Security trust fund may be able to fund benefits at only 75% of present benefits; and

WHEREAS, the trustees based their report on a 1.5% annual national growth, something that has not happened in more than 70 years, even during the Great Depression when the growth rate was 1.9%, and that is well below the 75-year average of 3%; and

WHEREAS, Alan Greenspan, chair of the Federal Reserve System, prudently invests personal money not in the stock market, but in U.S. treasury notes that are safer for long-term yields; and

WHEREAS, millions of future retirees in Montana and the rest of the United States are looking forward to and will be depending upon those benefits to which they have contributed over their lifetimes.

NOW, THEREFORE, BE IT RESOLVED BY THE SENATE AND THE HOUSE OF REPRESENTATIVES OF THE STATE OF MONTANA:

That the United States Congress move cautiously in resolving the needs of the Social Security program and retaining the present trust fund and finding a means of ensuring the continuation of the program by avoiding privatization .

BE IT FURTHER RESOLVED, that the Secretary of State send a copy of this resolution to the President of the United States, the Speaker of the United States House of Representatives, the President of the United States Senate, and each member of the Montana Congressional Delegation.

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