Politics
-jj^ljiiesday 1 , September 18, 2001
U Hutchison:
THE BATTALION
Page 5
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I DALLAS (AP) — Sen.
K.iy Bailey Hutchison
announced Monday that she
fe.i' introduced legislation to
increase random deployment
.?pt sky marshals on U.S.
flights home and abroad.
Saying they will be a deter-
yrent to would-be terrorists.
“We can no longer be
blind to our worst nightmare.
Ht has happened, and now we
■nust pledge that we will not
■dlow such cowards an unen
cumbered opportunity ever
Cgain,” Hutchison said.
The lawmaker, who is
Clie ranking senator on the
Siviation subcommittee,
™aid the FAA has had
tuthority to use sky mar-
hals since TWA Flight 847
rom Athens to Rome was
nijacked in June 1985.
The measure would be
temporary. After a year,
the FAA would report to
Congress on the success
f the program and rec
ommend whether it
should be continued.
“The American public
needs to have the kind of
security that an onboard
peace officer would provide,”
Hutchison said. Right now,
Hutchison said, pilot and co-
f pilot are responsible for deal
ing with unruly passengers
and more serious threats.
Hijackers crashed four
{ planes last week, two into the
World Trade Centers in New
York, one into the Pentagon
and another in Pennsylvania
‘T believe the pilot
, should fly the plane — peri-
: od,” Hutchison said. “A sky
i marshal would relieve the
l pilot and co-pilot of these
S additional responsibilities.”
PHOTO ILLUSTRATION BY ADRIAN CALCANEO • THE BATTALION 1 «
Aggies must consider alternatives to Social Security for retirement
By Jonathan Kolmetz
THE BATTALION
Texas A&M Professor Thomas
Saving, appointed to President Bush’s
Social Security commission in May, is
directing his expertise on Social Security
issues to a group of 18- to 22-year-olds
he sees everyday in his work at A&M.
Saving, the director of A&M’s Private
Enterprise Research Center, said the
younger generation needs to be political
ly aware of the choices they make.
“It’s about you guys, the young peo
ple ... the 18- to 22-year-olds and their
future and how much of their future
earnings will go to taxes to pay for
Social Security,” Saving said. “I am not
going to pretend anyone 18 to 22 years
of age is going to start saving for retire
ment, 1 would not do that at that age.
But in 10 or 15 years, when the current
system goes into deficit, the young peo
ple will be paying it.”
More than saving for retirement.
Saving said, “young people need to be in
the investment part of their life.”
Saving received his Ph.D from the
University of Chicago and served on the
faculty at the University of Washington-
Seattle and Michigan State University
before moving to Texas A&M in 1968.
Saving said his appointment to the
commission stemmed from the last eight
years of his work with Medicare and
Social Security issues. He testified sev
eral times in front of the U. S. Senate
and the U.S. House of Representatives
in Washington, D.C., before being
appointed to this position.
Saving will continue to serve as the
director of Enterprise Research Center
and as an economics professor. Most of
his work with the commission will be
done through teleconferences. When the
Commission has a full meeting, howev
er, Saving must fly to Washington to
participate.
Social Security is also termed Old
Age, Survivors and Disability Insurance
(OSADI). Saving’s committee deals
mainly with Old Age insurers. The
Commission, following President
Bush’s orders, will not make changes to
the OSADI guaranteed to current and
soon-to-be retirees.
Because of a lack of future Social
Security funding. Saving said, the com
mission is charged with the goal of finding
ways to change the younger generation’s
Social Security packages and benefits.
In 10 or 15 years, when
the current system goes into
deficit, the young people
will he paying it.
— Dr. Thomas Saving
A&M economics professor
If a change is not effective, young
people will be paying for their Social
Security through high taxes, he said.
“We cannot tell people often enough
that we [the commission] are not changing
Survivors and Disability Insurance but are
trying to find ways to solve the financing
problems that Old Age Insurance will
have in the future,” Saving said.
One item on the commission’s agenda*
is to allow young people to invest in their*
OSADI through FICA taxes.
“Taking the money that you are pay-I
ing to FICA and putting it into an.
account with your name on it, giving you
the ownership, might be one way to
solve the problem with Old Age
Insurance,” Saving said.
Right now, young people are at the
mercy of a future Congress that will
decide what to do with the soon-to-be
deficit Old Age Insurance, Saving said.
The younger generation needs to elect rep
resentatives that will make the correct
political decisions for their future, he said.
Students seeking their first job often
look at a company’s 40IK program or
other retirement programs when deciding
among their job offers. Saving said that
in reality, 40IK and retirement programs
are not an important consideration.
“They are nice,” Saving said. “But the
jobs are not going to be long-lived, and
the most important thing to get out of
your first job is what it is going to get you
in future earnings.”
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