Social Security is a guarantee. No senior has ever gone without a benefits check, even in times of economic recession. That is because the full faith and credit of the United States stands behind the Social Security promise. Social Security is there for everyone. Wall Street is a gamble. Unlike Social Security, Wall Street cannot guarantee anything because the stock market is premised on a bet that there will be someone willing to pay a lot more for something than someone else will. The recent fall in the stock market should be a reminder: As with all gambles, there is a downside. What goes up must come down. Turning Social Security over to Wall Street will mean that senior retirees will have to check the Dow Jones before they check their mailboxes to see if they are going to have any money left for shelter, food and medicine. There is no reason to sell out Social Security to Wall Street. Privatization schemes trade away Social Security's guarantee for a Wall Street gamble. Americans do not need a gamble. Americans need to hear Congress reaffirm its commitment to its citizens. Protect Social Security.
Editor's note · Context
Discussing the importance of protecting Social Security from privatization during a floor speech.
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