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Public Statements

Social Security is Not a Ponzi Scheme

Floor Speech

Location: Washington, DC

Mr. Speaker, I spend a lot of time at home talking to my senior citizens. On one of my visits home, they gave to me a package of 25,000 signatures, asking if I would pledge to support Social Security. I want them to know that I am going to pledge to do that. I also want to say to them that, yes, we need to make some changes, but it is not a Ponzi scheme. I want for them to understand that those who get by keep food and shelter because of Social Security. It is not a Ponzi scheme.

Yes, we need to make some changes, but do you know what, Mr. Speaker? We just need to raise the cap. We don't need to say that it can't be fixed, that it's broken. We need to raise the cap. Again, I am going to say it is not a Ponzi scheme. It is something that hardworking Americans deserve when they have finally retired after working for 25 or 30 or 40 years. It is not a Ponzi scheme.

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