| Our
nation's elderly have devoted their working lives to build our country
into the world leader it is today. They have fought wars to preserve
our freedom. They have tilled the land, built our roads, and constructed
our schools. Ensuring a secure and comfortable retirement for older
Americans is one of our fundamental national responsibilities. |
|
Social Security is the cornerstone of our national
commitment to older Americans. Created in 1935, the Social Security
program has lifted millions of Americans from poverty and allowed
millions more to maintain independent and financially secure lives
during their retirement years. Despite its successes, Social Security
faces serious challenges in the years ahead. Demographic changes are
undermining the financial underpinnings of the Social Security system.
Today, older Americans are living longer than ever. At the same time,
growth in the labor force is declining. The demographic changes that
are occurring in the United States mean that in future years there
will be more retirees but relatively fewer workers to pay for their
benefits. With a concerted effort, we can surmount these challenges.
In addressing the future solvency of Social Security, Congress will
have many different proposals to consider. Some of those proposals
would dismantle the basic foundation of the program.
While changes are necessary to guarantee Social Security's long-term
solvency, reform should not be used as an excuse to decimate the structure
of a program that has ensured a secure and independent retirement
for millions of Americans. I will continue to work with my colleagues
to protect the interests of working Americans preparing for retirement
as well as the principles of fairness and security for our older loved
ones. |
