Senate Resolution 246--Commemorating 80 Years Since the Creation of Social Security

Floor Speech

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Mr. WYDEN. Mr. President, I wish to take a few minutes in my capacity as ranking Democrat on the Committee on Finance to talk about the upcoming 80th anniversary of a great moment in our country's history--the creation of the Social Security Program on August 14, 1935.

I am very pleased to be joined by all of my colleagues on this side of the aisle in the introduction of a resolution demonstrating how much we appreciate this historic anniversary. Thanks in large part to Social Security, old age in America is no longer synonymous with hardship. American workers have the great comfort of knowing that if the worst happens, Social Security will be there for them and their families.

I remember how essential Social Security was to many of the older people I worked with when I was director of the Oregon Gray Panthers. However, eight short decades ago, seniors often lived in poverty and hard-working Americans had no guarantee of economic security. Our country was in the throes of the Great Depression. Unemployment topped 20 percent. You had bread lines for blocks, and the homeless population was growing. There was no social safety net, no lifeline that offered some measure of dignity. If a person lost their job, became disabled, suffered the loss of a family member, they were on their own. There was nowhere to turn. Life was difficult for many Americans but none more so than the poor, the elderly, or the disabled. Tragically, many aging and disabled Americans without family to care for them ended up destitute or on the street.

America is now a different place, thanks in no small part to the protection of Social Security. It is one of the strongest threads in America's safety net, protecting the well-being of millions and keeping millions more out of poverty. This year nearly 60 million American workers and eligible family members will receive nearly $900 billion in retirement, survivors, and disability benefits.

Among older Social Security beneficiaries, more than half of married couples and nearly three-quarters of
unmarried individuals get the majority of their income from Social Security. As of 2014, 151 million Americans had earned the protection of disability insurance. That is a tremendous accomplishment. Well over 100 million workers and their families can go about their days with the confidence that they are financially protected in the event of a medical catastrophe because of Social Security.

The program also provides indispensable benefits to nearly 7 million children. Without those benefits, many of the youngsters would face dire circumstances after the death or disability of a parent. None of this could have happened without the continuing support of the Congress.

Time and time again, Members have come together on a bipartisan basis to ensure this vital program remains strong. The 1939 amendments to Social Security expanded retirement benefits. In 1954, the Congress passed amendments that provided protection for workers who became disabled. The Social Security amendments of 1980 and 1983 also made important changes that helped ensure the program's long-term viability.

Social Security is one of America's great economic successes. The program is robust. In my view, there is big bipartisan interest in keeping it that way. I look forward to working with my colleagues and the ranking Democrat on the Finance Committee so that on both sides of the aisle we work together to ensure that Social Security continues to thrive for generations to come.

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