Political Quotes

“I rise today to talk about an issue that affects not only retirees in Ohio, but retirees all around the country. Let me start by saying that if hundreds of thousands of retirees were getting the Social Security benefits they had worked for cut by as much as 70 percent, there would be a national uproar. People would consider it totally unacceptable. It would be the top news story every night. People would say: These retirees played by the rules; they did everything right. Yet they are seeing these big cuts. How could this happen? Yet that is exactly what is happening to about 400,000 members of the Central States Pension Fund who are facing cuts of up to 70 percent as soon as July 1 of this year. Again, these are people who worked hard all their lives, put money into the pension system assuming it would be there, made their financial plans based on that, and now they are suddenly finding massive cuts--some 20 percent, some 40 percent, some as high as 70 percent. It is time for the Senate to address this potential crisis and to come up with a fair solution. The Central States Pension Fund consists mostly of union truck drivers. They have seen its pension fund severely decline. That is why we are in this situation. The pension suffered big investment declines during the great recession, as did other pension funds.…”