Next month marks the 75th anniversary of Social Security, which has been there for generations of Americans and will be for generations to come. Social Security is a bedrock promise to all Americans. You have paid into the system, the money is yours, and it is our responsibility to do everything we can to guarantee that it will be there for you when you retire. That's why we are so fortunate that our friends on the other side of the aisle were unsuccessful in their attempt to privatize Social Security at exactly the time the American financial markets were nearing collapse. 401(k)s and IRAs lost one-third of their value during the stock market plunge of 2008 and 2009. Imagine what would have happened to those retirees' income if their Social Security earnings had also been gambled away in the stock market. Mr. Speaker, rather than risk a lifetime of savings, Social Security will continue to be the stable, reliable, safety net that it was created to be 75 years ago.
Editor's note · Context
Altmire discusses the importance and stability of Social Security as it approaches its 75th anniversary.
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