SOCIAL SECURITY -- (House of Representatives - April 28, 2005)
(Ms. ROYBAL-ALLARD asked and was given permission to address the House for 1 minute and to revise and extend her remarks.)
Ms. ROYBAL-ALLARD. Mr. Speaker, Social Security is one of the most successful programs ever enacted by Congress. Through its guaranteed benefits and reliability, it has saved tens of millions of seniors from a life of poverty during their most vulnerable years.
To appreciate fully the importance of Social Security, one need only to have our grandparents talk about the tragic lives of many of our seniors prior to the 1935 passage of the Social Security Act. Yet the President's current proposal fails in its protection of our Nation's seniors by sacrificing the reliability of Social Security benefits for the highly risky scheme of private accounts, subject to the unpredictable fluctuations of the stock market. For that reason, it is no accident that seniors across the country are opposed to the President's ill advised and extremely risky Social Security proposal.
Let us reject the President's ideas and instead draft a plan to ensure the long-term solvency of Social Security and again give Americans the safety and confidence they have long enjoyed from the Social Security System.