Issue Position: Social Security

Issue Position

Congressman Moran is an outspoken advocate for strengthening, protecting, and preserving Social Security. From its inception in 1935, Social Security has been a safe, stable, and dependable source of financial assistance for retirees and their families.

Today, 95 percent of all workers are covered by Social Security and 6 out 10 seniors depend on it for over half of their total income. Year in and year out, the Social Security Administration is one of the best run agencies in the federal government. Unfortunately, the coming retirement of the baby boom generation threatens to make the Social Security system insolvent. This influx of new retirees will put great strain on the system. By 2040, the Social Security trust fund will be fully exhausted, at which time it will only be able to provide three quarters of the expected benefits future retirees will be dependent on.

While still in the distant future, Congressman Moran is very concerned about the Social Security's long-term fiscal health. He supports modifications to the current system in order to keep it going strong for later generations. His position is that any changes to the current system must promote its long-term solvency without disrupting the core principles on which the program was founded.

Some lawmakers advocate privatizing Social Security as a solution to the program's long-term solvency--a position Congressman Moran strongly opposed. Studies have shown that privatization would actually cripple the current Social Security system, taking $2.2 trillion out of the Social Security trust fund within the next 10 years, cutting future benefits by 46% and causing the national debt to rise precipitously.

President Obama has made clear that he intends to act on legislation to address the long-term solvency of Social Security once our economy is in recovery, and Congressman Moran looks forward to working with the new Administration too protect this vital program.

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