Under the current pay-as-you-go Social Security system, not one person is actually guaranteed benefits.
As you know, Social Security functions under the premise that today's workers will help finance benefits for retirees and that these workers will then be supported by the next generation of workers paying into the same system.
And let us not forget the Social Security system. Recent studies show that undocumented workers sustain the Social Security system with a subsidy as much as $7 billion a year. Let me repeat that: $7 billion a year.
They know your name, address, telephone number, credit card numbers, who ELSE is driving the car "for insurance", ... your driver's license number. In the state of Massachusetts, this is the same number as that used for Social Security, unless you object to such use. In THAT case, you are ASSIGNED a number and you reside forever more on the list of "weird people who don't give out their Social Security Number in Massachusetts."
Social Security is one of the greatest achievements of the American government, protecting our elderly against poverty and assuring young people of a more secure future.
Social Security is at last on the nation's front burner.
Democrats are fighting for a new direction that includes protecting Social Security as well as making healthcare affordable, bringing down the high cost of gasoline, and making higher education more accessible for all Americans.
If you look at things that really affect people's lives - sport, the arts, charities - they were always at the back of the queue for government money - health, social security, defence, pensions were all way ahead. And each of those areas - sports, the arts, the lottery - got relatively petty cash from the government.
I don't think Donald Trump is a conservative. I think his line on China for example, that he's going to talk tough to China. China didn't create Social Security, Medicare. China isn't spending a fifth of a billion dollars every hour that it doesn't have.
In fact, entitlement spending on programs such as Medicare, Medicaid, and Social Security make up 54% of federal spending, and spending is projected to double within the next decade. Medicare is growing by 9% annually, and Medicaid by 8% annually.
I think we'll build a consensus for action on Social Security reform which will reduce that long-term unfunded obligation and put the system on a sustainable basis.
Millions of Americans have paid into social security and deserve their full benefits. Pure and simple, Republicans are manufacturing a social security crisis that does not exist in order to dismantle social security.
From the moment we are born, the world tends to have a container already built for us to fit inside: A social security number, a gender, a race, a profession or an I.Q. I ponder if we are more defined by the container we are in, rather than what we are inside. Would we recognize ourselves if we could expand beyond our bodies? Would we still be able to exist if we were authentically un-contained?
.......the truth is, while the FBI is hiding behind the 5th Amendment, the Unabomer is qualifying for Social Security as a terrorist. Beam me up, Mr. Speaker.
If the economy is strained, then Social Security, like the rest of the government, will be, too.
I'm dubious about having Social Security put into the stock market. I think that we have gotten very far away from the idea that there's something sacrosanct about retirement investments.
The reality is that the workforce relative to the number of people retired has shrunk and today in America there are only 3.3 working Americans paying payroll taxes to support each individual currently retired and collecting Social Security taxes.
Our country also hungers for leadership to ensure the long-term survival of our Social Security system. With 70 million baby boomers in this country on the verge of retirement, we need to take action to shore up the system.
The President and I agree that Social Security needs to be preserved so that we can ensure that all Americans receive the retirement benefits they've been promised. But we disagree as to how best to fix the system.
I believe that social security should be a universal retirement guarantee and not means tested.
Today more people believe in UFOs than believe that Social Security will take care of their retirement.
However, the Administration's plan to privatize Social Security will undermine retirement security for all Americans by cutting guaranteed benefits by more than 40 percent, and risky private accounts won't make up for the loss of benefits for millions of Americans.
Our society has changed in unforeseeable ways since Social Security was created. For example, we are living longer, healthier, and more productive lives and while this is all great news, this has also placed added pressure on America's retirement system.
The main purpose of Social Security is to redistribute wealth, to make an increasingly large number of Americans dependent on government for their basic needs in their retirement years.
I agree that we must expand opportunities for retirement saving, but we must not undermine this worthy effort with a flawed privatization scheme that takes the 'security' out of Social Security.
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