CNBC Press Releases

HARWOOD: SENATOR, LET ME ASK YOU ABOUT FISCAL RESPONSIBILITY WHICH YOU'VE SAID WE HAVE TO RETURN TO. PART OF THAT IS, OBVIOUSLY, THE ENTITLEMENT, IN FACT, THE BIGGEST PART IS ENTITLEMENT. PART IS HEALTH AND PART SOCIAL SECURITY. FRED THOMPSON THE OTHER NIGHT WAS THE RARE CANDIDATE TO OFFER A SPECIFIC PROPOSAL. HE SAID LET'S CHANGE THE WAY THAT SOCIAL SECURITY BENEFITS ARE CALCULATED SO THAT IT'S TIED TO THE RATE OF INFLATION NOT TO THE GROWTH OF WAGES. THAT WOULD SAVE AN AWFUL LOT OF MONEY. ECOMOMISTS, DEMOCRATIC ECOMOMISTS I TALKED TO SAY DEPENDING HOW MANY PEOPLE YOU APPLIED THAT TO IT COULD SOLVE THE ENTIRE PROBLEM. IS THAT A GOOD IDEA?

CLINTON: HERE IS WHAT I THINK ABOUT SOCIAL SECURITY, A LOT OF REPUBLICANS HAVE BEEN SOUNDING THE ALARM ABOUT SOCIAL SECURITY FOR A LONG TIME. WE HAVE LONG-TERM CHALLENGES WHEN IT COMES TO SOCIAL SECURITY. WE HAVE A CRISIS WHEN IT COMES TO MEDICARE AND HEALTH COSTS. WHEN I LOOK AT SOCIAL SECURITY, I LOOK AT THE MISSED OPPORTUNITY. WHEN MY HUSBAND WAS ABLE TO ACHIEVE A BALANCED BUDGET AND A SURPLUS, THERE WAS A PLAN THAT WOULD HAVE EXTENDED THE LIFE OF THE SOCIAL SECURITY TRUST FUND UNTIL 2055. UNDER PRESIDENT BUSH WE'RE BACK INTO THE DEFICIT AND INCREASING DEBT SO WE'RE SEEING THAT THE SOCIAL SECURITY TRUST FUND'S LIFE IS NOW AIMED AT ABOUT 2041. WE DO HAVE TO GET BACK TO FISCAL RESPONSIBILITY TO REPLENISH THE SOCIAL SECURITY TRUST FUND. I WANT PEOPLE COMMIT TODAY THAT FIRST BEFORE WE START TALKING ABOUT WHAT WILL OR WILL NOT BE DONE. AND THEN I THINK WE SHOULD HAVE A BIPARTISAN COMMISSION SO THAT EVERYBODY AGREES ON WHAT STEPS HAVE TO BE TAKEN, BUT I AM STRESSING FISCAL RESPONSIBILITY BECAUSE WE COULD HAVE BEEN SO MUCH FURTHER DOWN THE ROAD TOWARD INSURING THE SOLVENCY FOR THE 21ST CENTURY, IF WE HADN'T DETOURED OFF THAT PATH.

HARWOOD: DONT YOU OWE IT, AS SOMEONE WITH A PRETTY GOOD CHANCE OF BECOMING PRESIDENT, DON'T YOU OWE IT TO THE AMERICAN PEOPLE WHAT YOU THINK ABOUT SOME OF THESE IDEAS SPECIFICALLY WHILE YOU'RE RUNNING.

CLINTON: I THINK WHAT I OWE THE AMERICAN PEOPLE AND TELL THEM I WILL NOT SPOOK THEM AND SOUND THE ALARM OVER SOCIAL SECURITY BECAUSE THAT'S NOT MERITED, WE HAVE TIME TO DEAL WITH THE PROBLEMS. I WILL DEAL WITH IT IN A RESPONSIBLE FASHION AND THE FIRST THING I'LL DO IS MOVE BACK TOWARDS FISCAL RESPONSIBILITY. UNLESS WE'RE COMMITTED TO FISCAL RESPONSIBILITY, YOU CAN TINKER AROUND THE EDGES AND YOU'RE STILL GOING TO HAVE PRESIDENTS LIKE PRESIDENT BUSH, WHO WILL CONTINUE TO RAISE THE SOCIAL SECURITY TRUST FUND AND FOR THE WEALTHY AMERICANS AND THE WAR IN IRAQ NEITHER OF WHICH HE'S PAID FOR. MY PRINCIPAL OBJECTIVE IS TO GET BACK TO FISCAL RESPONSIBILITY AND I WANT AMERICA KNOW I'LL DO THAT AND I'M TALKING IN GREAT LENGTH ABOUT HEALTHCARE AND MEDICARE BECAUSE THOSE ARE CRISIS WE HAVE TO DEAL WITH NOW.

HARWOOD: WE HAVE TO LEAVE IT THERE. THANK YOU FOR JOINING US,.

CLINTON: THANK YOU.

About CNBC:
CNBC is the recognized world leader in business news, providing real-time financial market coverage and business information to more than 340 million homes worldwide, including more than 95 million households in the United States and Canada. The network's Business Day programming (weekdays from 5:00 a.m.-7:00 p.m. ET) is produced at CNBC's headquarters in Englewood Cliffs, N.J., and also includes reports from CNBC news bureaus worldwide. Additionally, CNBC viewers can manage their individual investment portfolios and gain additional in-depth information from on-air reports by accessing http://www.cnbc.com.

Members of the media can receive more information about CNBC and its programming on the NBC Universal Media Village Web site at http://nbcumv.com/cnbc/.

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