Social Security is vital to the stability of our senior citizens. I believe that Congress has a very special responsibility to protect and preserve Social Security. Millions of hard-working families are counting on this program to help them through their retirement years. You can count on me to keep fighting to protect Social Security, as well as other programs that are important to our senior citizens.
Many people commonly believe that the money they pay into Social Security throughout their working years is set aside, and then paid back to them upon retirement. This isn’t the case. In reality, the program is a pay-as-you-go system with today’s workers paying to support today’s retirees. But each year, there are more retirees taking money out, and not enough additional workers to support them.
The Social Security and Medicare Boards of Trustees have stated that without action to protect the program, it will begin to permanently run in deficit in 2014, with the trust fund being exhausted in 2036. While Social Security is sound for today’s seniors and for those nearing retirement, it must be fixed for our children and grandchildren. To ensure that the program remains solvent for generations to come, we must improve the current system.
Clearly this crisis in this program must be fixed in order to ensure its solvency for future generations. Yet to date, Congress has not begun considering a specific proposal to reform Social Security, even though President Obama has expressed an interest in reforming the system. Above all, I am committed to keeping this program strong for future beneficiaries and will oppose any changes that jeopardize the benefits our seniors receive today.
For assistance with your Social Security benefits, please contact my District Office in Somerset, Kentucky.