Dick Durbin: “I will ask the first question. If you take up to 2 percent out of the Social Security trust fund--and it is a pay…”

“I will ask the first question. If you take up to 2 percent out of the Social Security trust fund--and it is a pay- as-you-go system--it is clear you don't have enough money to pay the benefits. The White House memo suggested that the way to deal with this is to reduce the amount of benefits paid to Social Security retirees. So I would like to ask my Republican friends if they support the White House memo that called for the price index that would cut benefits for Social Security retirees in years to come up to 40 percent.”