There is a better way. This spring I will form a presidential commission to reform Social Security. The commission will make its recommendations by next fall. Reform should be based on these principles: It must preserve the benefits of all current retirees and those nearing retirement. It must return Social Security to sound financial footing. And it must offer personal savings accounts to younger workers who want them. (Applause.)
Social Security now offers workers a return of less than 2 percent on the money they pay into the system. To save the system, we must increase that by allowing younger workers to make safe, sound investments that yield a higher rate of return. Ownership, access to wealth and independence should not be the privilege of the few. They are the hope of every American, and we must make them the foundation of Social Security. (Applause.)
By confronting the tough challenge of reform, by being responsible with our budget, we can earn the trust of the American people. And we can add to that trust by enacting fair and balanced election and campaign reforms. (Applause.)
The agenda I have set before you tonight is worthy of a great nation. America is a nation at peace, but not a nation at rest. Much has been given to us, and much is expected. Let us agree to bridge old divides. But let us also agree that our goodwill must be dedicated to great goals. Bipartisan is more than minding our matters. It is doing our duty. (Applause.)
No one can speak in this Capitol and not be awed by its history. As so many turning points, debates in these chambers have reflected the collected or divided conscience of our country. And when we walk through Statuary Hall and see those men and women of marble, we’re reminded of their courage and achievement.
Yet America’s purpose is never found only in statues or history. America’s purpose always stands before us. Our generation must show courage in a time of blessing, as our nation has always shown in times of crisis. And our courage, issue by issue, can gather to greatness and serve our country. This is the privilege and responsibility we share. And if we work together, we can prove that public service is noble.
We all came here for a reason. We all have things we want to accomplish and promises to keep. Juntos podemos -- together we can. (Applause.)
We can make Americans proud of their government. Together we can share in the credit of making our country more prosperous and generous and just, and earn from our conscience and from our fellow citizens the highest possible praise: Well done, good and faithful servants.
Thank you all. Good night and God bless. (Applause.)
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