A Quote by Laurence Kotlikoff
While the feds ... leave Social Security off their books, the government's obligation to make benefit payments to current and near-term Social Security recipients is certainly no less real than its obligation to pay interest on its Treasury bonds.
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You know, Floridians, we've paid into Social Security. Like a lot of other government programs, we sent money to D.C. We expect to get that money back. We expect that our Social Security is real. So, we have to fix Social Security.
Social Security represents an $11 trillion unfunded obligation. And when I say unfunded obligation, I mean we have to come up with $11 trillion at some point to make the system whole.
Social security is the most successful government program in our nation's history. We are not going to cut social security! We are going to expand social security!
[Social Security ] is not in crisis at this stage. Leave Social Security alone. We have a lot of other places we can look that is in crisis. But Social Security is not.
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.
When the average Social Security benefit is $1328 a month, and more than one-third of our senior citizens rely on Social Security for Virtually all of their income, our job is to expand benefits, not cut them.
The real sin with Social Security is that it's a long-term rip-off and a short-term scam.
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.
There are many commitments I have made for reducing poverty. One is to reform social security. Social security reaches only 44 percent of Mexicans. One of my goals is to give social security to all the people.
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.
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.
I have the highest number of Social Security recipients of any Member of Congress, and it is always good to hear about how women in their districts are affected by any changes, by the need for changes in Social Security.
For Social Security to be financially sound, the federal government should have $100 trillion - a sum of money six-and-a-half times the size of our entire economy - in the bank and earning interest right now. But it doesn't. And while many believe that Social Security represents our greatest entitlement problem, Medicare is six times larger in terms of unfunded obligations.
Yes, we can pay the interest on the debt. We can renew the $500 billion worth of bonds that are coming due. We can mail out our Social Security checks. We can make sure those Medicare claims are honored. We can pay our military. We can protect our veterans. But when you get beyond that, the soup gets a little thin.
Congress must take some thoughtful and targeted steps towards long-term solvency in the Social Security program. One such step is to eliminate the cap on income that is taxed for 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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