The photo above shows President Roosevelt signing the Social Security Act into law. That happened on August 14, 1935 -- making Social Security 83 years old now. It has been an enormous success, vastly reducing the number of seniors who must live in poverty after retirement.
And it has done with a payroll tax that goes directly into the Social Security Trust Fund. That fund has always paid for that without being a drain on federal funds -- since it is fully paid for all benefits issued, and Social Security has never added a penny to the federal deficit or the national debt.
Republicans have never liked the program -- because they represent the rich (who don't need it). They have tried repeatedly to eliminate the program. In the Bush II administration they tried to privatize it, and after that failed they have resorted to chipping away at the program -- raising the retirement age, trying to lower the cost-of-living adjustment, and most recently trying to cut funding for the program.
Those GOP efforts must be stopped. No federal program has worked better than Social Security has, and most seniors depend on it. Social Security should be enhanced -- not cut. The Republicans whine that Social Security is going broke. That is a lie! The program can pay full benefits until at least 2035, and after that, it can pay 80% of benefits. And if the limit on income subject to the payroll tax is increased, Social Security could be fully funded far into the future.
Here is what Senator Elizabeth Warren (pictured) had to say on the 83rd birthday of Social Security:August 14, was a special day. It was the day that President Roosevelt signed the Social Security Act into law, 83 years ago. Social Security was built on a simple, but powerfully important, idea: that after a lifetime of hard work, seniors have the right to retire with dignity. For millions of Americans, it’s all that stands between them hanging by their fingernails and living in poverty. People pay into Social Security based on a promise our country made to them: that when they retire, if they suffer an accident, or if they get sick, that the support they’ve earned will be there for them. But the Republicans are fine with breaking that promise. They’re using every scare tactic in the book to convince people that Social Security is on the brink of collapse – that we must cut benefits to save our economy. We’re fighting back in all directions. These programs aren’t just about money – they are a reflection of our values. That’s why it’s so critical we take back the House and Senate this November. We cannot fail on the promise we made to hard working Americans 83 years ago. And we’re not going to be the first generation in which our children do worse than we did.
