Mark Hatfield: “the idea of making the Social Security Administration an independent agency dates back to the early 1970's when Social…”

“the idea of making the Social Security Administration an independent agency dates back to the early 1970's when Social Security's impact on fiscal policy was made more visible through the inclusion of the program in the Federal budget. In the early 1980's, when the Social Security Administration was brought up in congressional budget discussions, the call for independence became more pronounced. Those calling for independence said that because of the self-financing nature of the program and the compact it has with the Nation's workers to pay earned benefits, independence would insulate Social Security from everyday fiscal policy decisions. Currently, the Social Security Administration is responsible for paying benefits to over 42 million recipients and maintaining earnings records for 132 million workers. With approximately 64,000 hard working and dedicated employees, a network of 1,300 field offices, and an annual budget of over $300 billion, the Social Security Administration is the largest agency within the Department of Health and Human Services and the ninth largest within the entire Federal Government. The shear magnitude as well as the promise this agency must fulfill to our Nation's seniors compels us to give it the stature it has deserved for far too long. Mr. President, I firmly believe that we, as Members of Congress, have no greater duty to American seniors and our working men and women that to protect and strengthen the Social Security system.”