Dave Camp: “I want to thank Chairman Shaw for leading this important effort to highlight the problems facing the current Social…”

“I want to thank Chairman Shaw for leading this important effort to highlight the problems facing the current Social Security system. Since the creation of the Social Security program, older Americans continue to count on guaranteed benefits to support them in their retirement. Social Security benefits must be there for every American who pays into the system. The President and the Republican Congress are committed to making sure Social Security is there for the worker who retires, is there for the widow who needs that extra source of income, and is there for the disabled who need that helping hand each month. I want to make sure these benefits continue for future generations of Americans. To ensure the continued solvency of the Social Security program Congress and the President must fact the facts that by 2018--less than 15 years from now the program will begin to pay out more in benefits than it currently collects. The outlays will be more than the revenues coming in. How can my Democratic friends ignore this reality? Fifty-five years ago, there were 16 workers for every one Social Security beneficiary. Today, there are three workers for every one beneficiary. The numbers don't improve from here on out. If we postpone the inevitable and do nothing to reform the current system, today's worker will be left with a Social Security program that has nothing to pay out.”