On the recordJuly 28, 2010
I join my colleagues today in recognizing the 75th anniversary of Social Security. Social Security has provided basic economic security for generations of Americans. A woman from Tewksbury, Massachusetts, a city that I represent, recently wrote me to say, ``I am retired and dependent on Social Security to survive. Please protect the benefits I've worked so hard for for many years.'' Over the years, Democrats have fought to improve and strengthen Social Security. As a result, the Social Security Trust Fund has reserves of $2.6 trillion, which will continue to earn interest and pay benefits until 2037. But imagine if Social Security benefits had been invested in the stock market during the recent Wall Street crisis. Seniors would have lost billions of dollars in Social Security income, along with any retirement savings they had when the economy collapsed. Despite what my colleagues on the other side of the aisle would argue, subjecting Social Security to the whims of Wall Street is not the answer. We must be committed to strengthening Social Security so that our contract with American workers endures for generations.
