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Schakowsky and 101 House Democrats Send Letter to Boehner To Exclude Social Security from Budget Negotiations

Statement

Date: Dec. 6, 2012
Location: Washington, DC
Issues: Senior Citizens Entitlements and the Safety Net

"Social Security has not contributed a dime to our budget deficit. By law, Social Security cannot borrow money or run a deficit. Nor is Social Security in crisis. With a current $2.7 trillion reserve, it is in no danger any time soon of running out of funds to pay benefits.

The average annual Social Security retiree benefit in Illinois is $13,541. For two out of every three retirees, that benefit represents the majority of their income -- for 1 out of every three, it accounts for 90% or more of their income. Yet Republicans in Congress continue to ask retirees -- current and future -- to face cuts in their earned Social Security benefits so that tax rates can be lowered for those with incomes above $250,000.

We must take Social Security benefit cuts off the negotiating table -- so that seniors will not have to worry whether they will be able to put food on their tables."


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