February 14, 2011 - From White House Press Briefing by OMB Director Jack Lew and CEA Chairman Austan Goolsbee on the Budget

Q (Robert Weiner, Weiner Public News and national columnist): Mr. Director, it was interesting to hear you say that Social Security isn't contributing to the budget deficit, but why is Social Security still on the table? Majority Leader Reid said, "Quit picking on Social Security." And isn't it actually solvent until 2037 with the money that seniors have paid into it?

MR. LEW: What the President has said is that we need to look ahead and we need to make sure that people who are working today can count on the benefits being paid when they retire. It's not an urgent moment to do it. There's not anything that's going to happen this year or next year. But it is the right thing to do, to do it way in advance and to look far down the road. And it is not something that would affect the short-term budget horizon, but it's still the right thing for us to do in the right way. And the President laid out in the State of the Union and in the budget principles that we think reflect the right way.