Floor Statement on the Importance of Social Security -- July 27, 2010

One of the more important social programs of our times is nearing its 75th birthday, and I am so pleased to come to the floor today and speak on the vital role Social Security continues to play for some 50 million Americans.

Our economy is indeed seeing signs of rebirth. However, millions of Americans are feeling the impact, and programs such as Social Security are playing an important role in ensuring these people are able to make ends meet.

It aggravates me to hear the other side continue to threaten cuts to these benefits or to once again focus on privatization.  I believe the American people understand Social Security is not the cause of our budget deficits, and cutting this program is only stealing from those who have earned it.

I am committed to working for real solutions when problems arise, but the claim that Social Security is paying out more than it takes in is simply untrue.  The trust fund has reserves of $ 2.6 trillion, which continues to earn interest and will pay out benefits in full until 2037.  Again, I will continue to work for the American people and ensure this important program is there now and for future generations.