A Quote by Jack Lew
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.
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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.
Lets all be reminded, 60 million Americans are on Social Security, 60 million. A third of those people depend on 90% of their income from Social Security. Nobody in this country is on Social Security because they made the decision when they were starting work at 14 that they wanted to trust some of their money with the government.
Our constituents paid into Social Security, and they want it paid back to them when they retire. Cutting Social Security benefits that Americans have earned should always be a last resort.
Currently, more than 4.7 million African Americans receive Social Security benefits, and nearly 8 million people with disabilities depend on Social Security for their daily sustenance.
The Social Security trust fund is in pretty good shape today and we should not embark upon risky, dangerous schemes which will, in fact, undermine Social Security, such as privatization.
Social Security is an insurance policy. It's a terrible investment vehicle. Social Security has some great benefits. But it was never meant to be a savings plan. So we need to have a national debate. Should this 12.5 percent that we're contributing all go into a Social Security pool, or should half go into a mandatory savings plan?
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.
To fix Social Security, we should first stop using the Consumer Price Index to adjust benefits for inflation. Using the C.P.I. overstates the impact of inflation and has also led to larger increases in benefits for Social Security recipients than the income gains of typical American workers.
Today there are about 40 million retirees receiving benefits; by the time all the baby boomers have retired, there will be more than 72 million retirees drawing Social Security benefits.
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.
Believe me, every American, every person in this country, if I have anything to say about it, will know precisely what is going on with Social Security, Medicare and Medicaid, because they are beginning to appoint people who are typical right-wing Republicans who want to privatize and cut Social Security.
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.
I stand with the millions of seniors and working people who depend on Social Security and who expect the money they put in to be there for them when they retire.
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.
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.
By requiring that any surplus in Social Security taxes be returned to the American people in personal savings accounts, the plan ensures that Social Security taxes will be used for Social Security.
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