The Safe Commission: Letters to Treasury Secretary Paulson

by Frank Rudolph Wolf

THE SAFE COMMISSION: LETTERS TO TREASURY SECRETARY PAULSON

                                 ______
                                 

                           HON. FRANK R. WOLF

                              of virginia

                    in the house of representatives

                       Thursday, January 15, 2009

  Mr. WOLF. Madam Speaker, I continue to be deeply concerned about
America's mounting deficit spending and Federal debt and have been
working for the past several years to engage this administration in
embracing a bipartisan plan to reverse course and get our country on a
sound and sustainable financial path.
  I introduced the SAFE Commission concept for the first time during
the 109th Congress on June 7, 2006. In the 110th Congress I teamed with
Jim Cooper, and we introduced the bipartisan SAFE Commission
legislation again. A similar Senate effort was led by Budget Chairman
Kent Conrad and ranking member Judd Gregg.
  Following the SAFE bill's introduction, I reached out to Treasury
Secretary Paulson about getting our fiscal house through more than a
dozen letters from July 12, 2007, to April 10, 2008, updating the
administration on progress that was being made with the bill. I submit
for the Record a sample of that correspondence.
  I have been encouraged with the growing support for the SAFE proposal
from leading newspaper editorials to think tanks to syndicated
columnists to business organizations. I

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remain deeply disappointed that this idea was not embraced by Secretary
Paulson. I hope that the Obama administration will understand the
urgency for bipartisan action to address this nation's long-term budget
challenges, especially as we deal with the current financial crisis,
for the sake of our children and grandchildren.


                                     House of Representatives,

                                    Washington, DC, July 12, 2007.
     Hon. Henry Paulson,
     Secretary, Department of the Treasury,
     Washington, DC.
       Dear Secretary Paulson: As you know, Senator Voinovich and
     I reintroduced the Securing America's Future Economy (SAFE)
     Commission Act in January. I wanted to follow up with you and
     share the enclosed letter I wrote to the president asking
     that the administration embrace this idea.
       I think about our children and grandchildren and it is
     disheartening that critical issues are falling by the wayside
     because Congress today is so polarized. I believe that a
     bipartisan commission operating outside the halls of Congress
     that would mandate action is the answer to getting our fiscal
     house in order and diverting financial crisis in this
     country.
       The SAFE Commission bill has 32 cosponsors to date. I am
     committed to continue working with my colleagues to enact
     this legislation on a matter of such importance to our
     nation's future.
       Best wishes.
           Sincerely,
                                                    Frank R. Wolf,
                                               Member of Congress.
                                  ____
                                  


                                     House of Representatives,

                                   Washington, DC, August 3, 2007.
     Hon. Henry Paulson,
     Department of the Treasury,
     Washington, DC.
       Dear Secretary Paulson: I read your recent comments about
     reaching the statutory debt limit as early as October. I have
     always voted for the limit increase but am seriously
     considering voting against it this year because of the lack
     of leadership by the administration in taking steps to change
     the country's current financial path. I truly believe that
     this administration has the ability to change our course.
       I am not writing to you today as a Republican or a
     Democrat, but as a father and grandfather. Lawmakers on both
     sides of the aisle understand the enormity of this issue and
     the impact that will be felt for generations to come. It's
     disheartening that the partisan political divide in Congress
     is so consuming that issues with such high stakes continue to
     languish.
       That's why I have introduced the Securing America's Future
     Economy (SAFE) Commission Act, which would establish a
     bipartisan commission and put everything--entitlement, tax
     policy, and other federal spending--on the table for review.
       This administration can offer hope and start to remedy our
     fiscal prognosis, brightening the horizon for our children
     and their children. It is critical that they have all the
     opportunities the Greatest Generation made possible for you
     and me. Our grandchildren should set ambitious goals, and
     believe that hard work will be met by opportunity.
       We have a moral obligation to address the long-term fiscal
     challenges ahead.
       I know you are a good person and want what is best for
     America. With your leadership and vision, progress can be
     made.
       Best wishes.
           Sincerely,
                                                    Frank R. Wolf,
     Member of Congress.
                                  ____



                                     House of Representatives,

                                 Washington, DC, October 22, 2007.
     Hon. Henry Paulson,
     Department of the Treasury,
     Washington, DC.
       Dear Secretary Paulson: Just wanted to update you on the
     SAFE Commission legislation since I reintroduced the bill
     with Jim Cooper three weeks ago.
       The measure has gained bipartisan support with over 40
     cosponsors--split evenly between Democrats and Republicans
     from members of the Republican Study Committee to three of
     the four Blue Dog Coalition co-chairs I believe that support
     for this measure will continue to grow.
       You may have read that the first baby boomer signed up for
     promised Social Security benefits last week. Our nation's
     "long term" deficit problem has arrived.
       We should he concerned that last Monday the U.S. dollar hit
     an all-time low in the wake of a major housing recession and
     enormous trade deficits. We should care that the value of the
     dollar has been dropping against the Canadian dollar, the
     Euro and the Japanese yen.
       What will it take for us to address these issues?
       The SAFE Commission fits into what this administration
     claims to stand for and will ensure sound financial footing
     for generations to come. I have enclosed information on the
     bill since its reintroduction including a list of current
     cosponsors.
       Please give serious consideration to the SAFE Commission
     Act.
       Best wishes.
           Sincerely,
                                                    Frank R. Wolf,
     Member of Congress.
                                  ____



                                     House of Representatives,

                                 Washington, DC, October 25, 2007.
     Hon. Henry Paulson,
     Secretary, Department of the Treasury,
     Washington DC.
       Dear Secretary Paulson: As meritorious as the
     Administration's argument is with regard to the $21 billion
     in discretionary spending it is relatively insignificant
     compared to the massive entitlement spending problem. It is
     like comparing a mouse to an elephant.
       Our SAFE Commission bill represents all that the
     Administration says it cares about, including more than 50
     bipartisan cosponsors (see list).
       Failing to address this issue is like driving a car toward
     the edge of a cliff with no brake pedal.
       Best wishes.
           Sincerely,
                                                    Frank R. Wolf,
     Member of Congress.
                                  ____



                                     House of Representatives,

                                 Washington, DC, November 1, 2007.
     Hon. Henry Paulson,
     Department of the Treasury,
     Washington DC.
       Dear Secretary Paulson: I am deeply troubled that this
     Administration is missing an opportunity to do something so
     powerful for our children and grandchildren.
       Best wishes.
           Sincerely,
                                                    Frank R. Wolf,
     Member of Congress.
                                  ____



                                     House of Representatives,

                                Washington, DC, November 14, 2007.
     Hon. Henry Paulson,
     Department of the Treasury,
     Washington, DC.
       Dear Secretary Paulson: As a follow up to our conversation
     last week about the SAFE Commission. I want you to know that
     Roy Blunt has also signed onto the bill.
       The Cooper-Wolf SAFE Commission has over 50 bipartisan
     cosponsors including Republican leadership in the House (see
     enclosed).
       We are waiting for the Administration to support this
     effort to rein in entitlement spending.
       Best wishes.
           Sincerely,
                                                    Frank R. Wolf,
     Member of Congress.
                                  ____



                                     House of Representatives,

                                 Washington, DC, December 5, 2007.
     Hon. Henry Paulson,
     Department of the Treasury,
     Washington, DC.
       Dear Secretary Paulson: Enclosed is a letter I recently
     received from Ben Bernanke about our nation's fiscal
     imbalance, reiterating. ". . . if early and meaningful
     action is not taken, the U.S. economy could be seriously
     weakened, with future generations bearing much of the cost."
       Your administration deserves credit for its work in the
     past to address the entitlement reform issue. Our parents
     told us that if at first you don't succeed, try, try again. I
     am asking that the SAFE Commission be that second try.
       Best wishes.
           Sincerely,
                                                    Frank R. Wolf,
     Member of Congress.
                                  ____



                                     House of Representatives,

                                 Washington, DC, January 17, 2008.
     Hon. Henry Paulson,
     Department of the Treasury,
     Washington, DC.
       Dear Secretary Paulson: Between July 19 and December 10,
     2007, I wrote to you nine different times about the
     unsustainable financial path our country is on, and the
     bipartisan SAFE Commission as a potential way forward to rein
     in entitlement spending. I have respectfully asked for the
     administration's support because of the critical importance
     of taking action now.
       I am disappointed that the administration is missing this
     opportunity to bring about a renaissance in America, giving
     hope to future generations and ensuring that our children and
     grandchildren can live in a world where hard work will be met
     by opportunity.
       Best wishes.
           Sincerely,
                                                    Frank R. Wolf,
     Member of Congress.

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