Political Quotes

“Social Security is a sacred trust between the American people and our government. It is a promise to workers, many of whom have no other savings besides Social Security. A promise, almost by definition, does not change. It remains consistent despite new challenges. It is just a question of whether society has the courage to honor that commitment. Now Social Security as we know it is headed for a fiscal cliff in 9 years. If it hits that cliff, if we do nothing and we just attempt to borrow our way out of it, there will be an estimated $615 trillion in accumulated debt over the next 75 years--again, if we just attempt to borrow our way out of it. If we don't borrow our way out of it, there is a 20- to 24-percent cut in benefits to Social Security recipients, both current and future. This is the rock and the hard place: either the 20-percent or so cut or, with borrowing costs, a $615 trillion addition to our Nation's deficit. I have spoken before on Social Security. Today, I want to focus on two unfair provisions that we would eliminate if we actually have a chance to address Social Security, the larger picture. The two I will speak of are the windfall elimination provision and the government pension offset, also known as WEP and GPO. These penalize families across the country who worked in a State or a local public service job for part of their career and had a pension separate from Social Security. How did we get here?…”