(Washington, DC) – House Democratic Caucus Vice Chair James E. Clyburn today issued the following statement in recognition of Social Security's 70th Anniversary.
"August 14th marks an important milestone for America's elderly, disabled and surviving dependent spouses and children – the 70th anniversary of Social Security. Since 1935, Social Security has been our country's contract with our most vulnerable citizens that they will not be forgotten. It is more imperative now than ever that we continue to provide the guarantee of Social Security for future generations.
"Today, one out of every four American households receives Social Security. These monthly benefits are predictable and steady, keep up with inflation, and do not fluctuate with the stock market. That could change for future beneficiaries if proposed changes to Social Security are enacted.
"The Democratic Caucus is committed to insuring that the guarantee of Social Security remains in tact. Without this critical safety net, 12 million American seniors, or half our elderly population, would live in poverty. The nearly 15 million people who are helped through Social Security's disability and survivor benefits would have no financial support in the most difficult time of their lives.
"Social Security has been a model program that deserves to be preserved not gambled away. On this anniversary, we must remember that this vital program was born out of the desperation wrought by rampant bank failures and a devastating stock market crash. We should learn from the lessons that history has taught us. The lure of making a fast buck on Wall Street should not undermine the 70 years of success that this steady program represents. I am committed, along with my Democratic colleagues, to insuring that Social Security remains a stable safety net for the next 70 years."
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