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Issue Position: Social Security

Issue Position

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Social Security is perhaps the most well known and utilized of federal government programs. Established nearly 75 years ago, Social Security was born of Depression-era realities that millions of American seniors who worked throughout their lives still needed retirement protection to avoid falling into poverty. Since its inception, the Social Security system supports American workers and their families through three structured benefits- retirement, disability, and survivors.

Sadly, today's tough economy leaves many seniors in similarly difficult position- of falling back on family or going without essential services and care- to keep above water. Congressman Matheson knows that Social Security is a non-negotiable contract between the U.S. government and American workers, and will always fight for its long-term solvency and to ensure that those who are eligible receive their hard earned benefits.

One question that Congressman Matheson often hears at public meetings is how long Social Security is expected to remain viable for current and future recipients. It is important to know that current projections indicate that Social Security, just as it exists today, will meet full obligations through 2036. Beyond this point, the Social Security system would still have the capacity to meet approximately 75 percent of promised benefits. This underscores an important point- while we know Social Security will be here and meet the needs of seniors for 25 more years with no changes- our country must begin thinking in a constructive and bipartisan way about how to provide future generations with a stable, solvent Social Security system. Matheson is committed to finding a common sense solution to this problem, but does not support privatization of benefit plans. As a country, we have all learned in the recent financial crisis that investing in the market can have unexpected highs and lows, and we simply cannot afford to gamble on the secure future of America's seniors.


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