A Quote by Mitch McConnell
We need to strengthen and save Social Security for today's workers. If we don't act now, this system, born out of the New Deal, will become a bad deal.
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If we do not act now to strengthen Social Security, the system that so many depend upon today will be unable to meet its promises to tomorrow's retirees, and it will burden our children and grandchildren with exhaustive taxes.
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.
Social Security is something that we need to deal with, because people who are working today, who will retire in the future, people who are retired today, they have a right - and it's part of the compact that they can depend on their benefits. We should fix the long-term funding problem of Social Security because that's the right thing to do.
The Great Depression, they come out with the New Deal, black people didn't have access to those government stimulus packages. The New Deal set up what is known as the modern-day middle class. We didn't have access to programs - the G.I. Bill, Social Security, home loans - none of that.
We need to preserve programs like Social Security and Medicare for our seniors of today and tomorrow. But we need to strengthen both Social Security and Medicare to make sure these programs are still available for future generations.
Social Security should be phased out and ended altogether. ... Social Security in any form is morally irredeemable. We should be debating, not how to save Social Security, but how to end it - how to phase it out so as to best protect both the rights of those who have paid into it, and those who are forced to pay for it today. This will be a painful task. But it will make possible a world in which Americans enjoy far greater freedom to secure their own futures.
You need education. You need subsistence protection. We need jobs and social security. These are preconditions under which it will perhaps be possible to deal with these complex circumstances.
Today, I'm 60, I'm not married, I don't have any kids. I would give up some Social Security to save a system that Americans are going to depend on now and in the future.
Politicians generally act as if there is no cost to reconnecting with voters by building new New Deals. But the whole exercise of writing law out of New Deal nostalgia is a form of national narcissism. Call it New Deal narcissism.
What is needed is both a New Deal in terms of mission-oriented investments but also a new deal in terms of a modern social compact - one that allows the state to socialize not only risks but also rewards. Maybe then innovation-led growth will also become growth that includes all of us.
According to the Social Security Administration, in 1945, 41.9 workers supported each individual retiree, while today only 3.3 workers support each retiree. This system cannot continue.
This is a huge problem. If we don't deal with this within just a few years, you will have island nations flooded; you will have the agricultural balance of most countries completely changed; you will have a dramatic increase in the number of severe, unmanageable weather events... And the good news is that we can now deal with this problem - and strengthen our economic growth, not weaken it.
Young people understand that there is not a Social Security trust fund. Social Security is a pay-as-you-go system, where today's millennials are paying for today's seniors.
I would hope that we could have this in an adult fashion and stop demagogueing the issue anytime you talk about any substantive reforms that will actually save social security and save Medicare and save the system from imploding on itself.
I do not believe that the Social Security system is in crisis. The Social Security Administration itself recently reported that the system is able to pay full benefits as they are defined today until at least 2042.
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.
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