PRINTER'S NO. 2727

THE GENERAL ASSEMBLY OF PENNSYLVANIA

HOUSE RESOLUTION

No. 312 Session of 1997

        INTRODUCED BY BARRAR, ADOLPH, THOMAS, ARGALL, GEORGE, BOSCOLA,
           MELIO, FICHTER, FARGO, HALUSKA, READSHAW, ROSS, PESCI, BUNT,
           TRELLO, LAUGHLIN, HENNESSEY, YOUNGBLOOD, OLASZ, ROBERTS,
           STABACK, ORIE AND RAYMOND, DECEMBER 16, 1997

        REFERRED TO COMMITTEE ON INTERGOVERNMENTAL AFFAIRS,
           DECEMBER 16, 1997

                                  A RESOLUTION

     1  Memorializing the President of the United States and Congress to
     2     support and approve legislation to promote and encourage
     3     economic security.

     4     WHEREAS, The nation's Social Security system is currently
     5  headed for bankruptcy due to an increasing shift in the
     6  country's demographics causing the current system to begin to
     7  run large deficits starting in the year 2012; and
     8     WHEREAS, Savings and investment in the United States continue
     9  to decrease at alarming rates; and
    10     WHEREAS, Most American families are working harder to make
    11  ends meet and have nothing left for savings; therefore be it
    12     RESOLVED, That the House of Representatives of the
    13  Commonwealth of Pennsylvania memorialize the President of the
    14  United States and Congress to support and approve legislation to
    15  promote and encourage economic security; and be it further
    16     RESOLVED, That the legislation reflect the following:
    17         (1)  the Federal Government must honor its obligations to

     1     current retirees who depend on Social Security;
     2         (2)  a Social Security safety net needs to be maintained
     3     so that no beneficiary is forced to live in poverty;
     4         (3)  a system should be created that allows workers to
     5     build savings for their retirement and earn interest on their
     6     savings and increases capital ownership for all Americans;
     7         (4)  any system created should provide savings
     8     incentives, thus increasing the nation's savings and
     9     investment rates and the prosperity of the United States; and
    10         (5)  America's "grass roots" should be educated to
    11     understand the challenges facing the current system and the
    12     options for reform;
    13  and be it further
    14     RESOLVED, That copies of this resolution be transmitted to
    15  the President of the United States, to the presiding officers of
    16  each house of Congress and to each member of Congress from
    17  Pennsylvania.









    K12L82DMS/19970H0312R2727        - 2 -