Supporting Social Security -- Extension of Remarks

Floor Speech

Mr. VAN HOLLEN. Madam Speaker, as we approach the 75th anniversary of Social Security, I rise today to reaffirm its promise as an economic lifeline to millions of senior citizens and those with disabilities, and to preserve it for future generations.

More than 50 million Americans depend on Social Security benefits to make ends meet. For many, it is their only source of financial security during these tough economic times. Seniors have worked all their lives and made contributions to the Social Security program. However, we should not threaten their benefits to reduce the federal deficit and pay for the policies of fiscal irresponsibility that President Obama inherited. Fixing this budget mess should not come at the cost of hurting Social Security beneficiaries.

Our Republican colleagues have once again advanced a proposal to partially privatize Social Security that puts the financial security and stability of America's seniors at risk. Seniors cannot afford to have their retirement security gambled away on the volatile stock market. At the same time Washington Republicans want to repeal the Wall Street reform legislation, they are pushing for a risky plan that would funnel billions of dollars of America's Social Security retirement savings to Wall Street.

Madam Speaker, we have a choice to make. We can take the path that jeopardizes the Social Security program and the benefits it provides, or we can take the road that preserves the retirement benefits that seniors have paid for, earned and need. Let's choose the right path and make sure that Social Security continues to provide seniors with the same financial stability, reliability and security as it has for the past 75 years.

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