SOCIAL SECURITY -- (House of Representatives - May 04, 2005)
(Mr. CANTOR asked and was given permission to address the House for 1 minute and to revise and extend his remarks.)
Mr. CANTOR. Mr. Speaker, Social Security is undoubtedly the sacred bond between the United States Government and the American people. The Social Security debate is one about how to best protect the interests of today's seniors while preserving benefits for our children and our grandchildren.
When visiting citizens in my congressional district over the last several months, I was able to hear from students, seniors, employers and others about their thoughts on the problem facing the Social Security system. Undoubtedly, I heard the message that the Social Security system is headed for a crisis. In the 1930s when Social Security was created, there were more than 40 workers for every retiree. Today, there are just over three workers for every retiree. By 2018, there will be less than three workers for every retiree. These are the facts. This is our reality. To ignore this problem or to claim that there is no problem is plain irresponsible.
I look forward to working with my colleagues on both sides of the aisle to produce a solution for the American people to save our Social Security system.