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Social Security Crisis

Floor Speech

Location: Unknown

Mr. SAM JOHNSON of Texas. Mr. Speaker, back in 2007, then-candidate Obama said the Nation is facing ``a Social Security crisis.'' And he was right. Unfortunately, 5 years later, as we deal with a looming fiscal cliff, some in the President's own party are denying the fiscal reality when it comes to Social Security. Here are the facts:

Social Security is the government's most expensive program. Since 2010, it has been bleeding cash, and over the next 10 years, it will do so to the tune of nearly $1 trillion. As a recent USA Today editorial put it, Social Security is indeed contributing to our deficit. To say otherwise is to lie to the American people.

Mr. Speaker, all Americans want, need, and deserve that we work together to address our fiscal challenges. We owe it to current and future beneficiaries to secure this critical safety net. We can make Social Security solvent forever. Let's do it.

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