Social Security, Medicare, and Medicaid: Keeping Faith with America's Seniors, the Disabled, and the Needy

Floor Speech

Ms. SCHAKOWSKY. Madam Speaker, I rise today to issue a warning to America's seniors and working families: Top Republicans are still trying to privatize Social Security. The GOP Budget Chairman Paul Ryan, author of the budget that ends Medicare and increased health costs for seniors, admitted he views Social Security as a Ponzi scheme. And Congressman Pete Sessions, who serves in House leadership for the GOP, introduced legislation labeled ``Savings Account For Every American Act'' that would have people opt out of Social Security by sending their contributions to a private account.

According to Stephen Goss, Social Security's chief actuary, this change will ``severely compromise'' the ability to pay for current seniors and those near retirement. ``So Social Security, the ability to pay benefits to people who are currently receiving, or are now approaching the time of receiving benefits, would be severely compromised. Our year of trust fund exhaustion would certainly come to be much sooner than 2036.'' In other words, the plan of the Republicans to privatize Social Security would put that program that has never missed a check to Americans in danger. We need to oppose those efforts.

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