Welfare In The United States

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April 10, 2026

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April 10, 2026

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"One of the highest priorities of my Administration has been to continue the tradition of effectiveness and efficiency widely associated with the social security program, and to assure present and future beneficiaries that they will receive their benefits as expected. The earned benefits that are paid monthly to retired and disabled American workers and their families provide a significant measure of economic protection to millions of people who might otherwise face retirement or possible disability with fear. I have enacted changes to improve the benefits of many social security beneficiaries during my years as President. The last four years have presented a special set of concerns over the financial stability of the social security system. Shortly after taking office I proposed and Congress enacted legislation to protect the stability of the old age and survivors trust fund and prevent the imminent exhaustion of the disability insurance trust fund, and to correct a flaw in the benefit formula that was threatening the long run health of the entire social security system. The actions taken by the Congress at my request helped stabilize the system. That legislation was later complemented by the Disability Insurance Amendments of 1980 which further bolstered the disability insurance program, and reduced certain inequities among beneficiaries. My commitment to the essential retirement and disability protection provided to 35 million people each month has been demonstrated by the fact that without interruption those beneficiaries have continued to receive their social security benefits, including annual cost of living increases. Changing and unpredictable economic circumstances require that we continue to monitor the financial stability of the social security system. To correct anticipated short-term strains on the system, I proposed last year that the three funds be allowed to borrow from one another, and I urge the Congress again this year to adopt such interfund borrowing. To further strengthen the social security system and provide a greater degree of assurance to beneficiaries, given projected future economic uncertainties, additional action should be taken. Among the additional financing options available are borrowing from the general fund, financing half of the hospital insurance fund with general revenues, and increasing the payroll tax rate. The latter option is particularly unpalatable given the significant increase in the tax rate already mandated in law. This Administration continues to oppose cuts in basic social security benefits and taxing social security benefits. The Administration continues to support annual indexing of social security benefits."

- Social Security (United States)

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"I'd like to give you one example. His name is Richard Dean. He's a 49-year-old Vietnam veteran who's worked for the Social Security Administration for 22 years now. Last year he was hard at work in the Federal Building in Oklahoma City when the blast killed 169 people and brought the rubble down all around him. He reentered that building four times. He saved the lives of three women. He's here with us this evening, and I want to recognize Richard and applaud both his public service and his extraordinary personal heroism. But Richard Dean's story doesn't end there. This last November, he was forced out of his office when the Government shut down. And the second time the Government shut down he continued helping Social Security recipients, but he was working without pay. On behalf of Richard Dean and his family, and all the other people who are out there working every day doing a good job for the American people, I challenge all of you in this Chamber: Let's never, ever shut the Federal Government down again. On behalf of all Americans, especially those who need their Social Security payments at the beginning of March, I also challenge the Congress to preserve the full faith and credit of the United States, to honor the obligations of this great Nation as we have for 220 years, to rise above partisanship and pass a straightforward extension of the debt limit and show people America keeps its word."

- Social Security (United States)

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"Our fiscal discipline gives us an unsurpassed opportunity to address a remarkable new challenge, the aging of America. With the number of elderly Americans set to double by 2030, the baby boom will become a senior boom. So first, and above all, we must save Social Security for the 21st century. Early in this century, being old meant being poor. When President Roosevelt created Social Security, thousands wrote to thank him for eliminating what one woman called "the stark terror of penniless, helpless old age." Even today, without Social Security, half our Nation's elderly would be forced into poverty. Today, Social Security is strong. But by 2013, payroll taxes will no longer be sufficient to cover monthly payments. By 2032, the Trust Fund will be exhausted and Social Security will be unable to pay the full benefits older Americans have been promised. The best way to keep Social Security a rocksolid guarantee is not to make drastic cuts in benefits, not to raise payroll tax rates, not to drain resources from Social Security in the name of saving it. Instead, I propose that we make the historic decision to invest the surplus to save Social Security. Specifically, I propose that we commit 60 percent of the budget surplus for the next 15 years to Social Security, investing a small portion in the private sector, just as any private or State Government pension would do. This will earn a higher return and keep Social Security sound for 55 years. But we must aim higher. We should put Social Security on a sound footing for the next 75 years. We should reduce poverty among elderly women, who are nearly twice as likely to be poor as our other seniors. And we should eliminate the limits on what seniors on Social Security can earn. Now, these changes will require difficult but fully achievable choices, over and above the dedication of the surplus. They must be made on a bipartisan basis. They should be made this year. So let me say to you tonight, I reach out my hand to all of you in both Houses, in both parties, and ask that we join together in saying to the American people: We will save Social Security now. Now, last year we wisely reserved all of the surplus until we knew what it would take to save Social Security. Again, I say, we shouldn't spend any of it, not any of it, until after Social Security is truly saved. First things first."

- Social Security (United States)

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"The second thing I want to talk about is Social Security. A year ago in his State of the Union speech, the president said he was committed to saving Social Security. I'm glad to hear him discuss it again this evening. Unfortunately spending the surplus as he proposes will not save Social Security. It just temporarily props it up with extra cash. Mr. President, we're still waiting for real legislation. We've reserved H.R. 1, the very first bill of this Congress, for the president's Social Security plan. There's one thing we all can agree on—one non-negotiable principle—we must keep our contract with our senior citizens who depend on Social Security for part of all of their retirement income. This nation made that promise long ago, and we will keep that promise. But Social Security needs not just to be patched up. It needs to be updated for the 21st century. People today want and expect to have more control over their lives and over their money. But President Clinton's approach, as you've just heard, gives the government more control of your retirement income. The Social Security dollars deducted from your paycheck currently earn less than 3 percent a year. That's not enough of a return; that's not going to keep Social Security solvent; and it's especially not fair to young people and women. For example, the current system works against mothers who choose to step out of their job for a while, away from their career, to raise children or to care for parents. It works against wives, who more often than not, survive their husbands and they end up living for more years on fewer dollars. And it works against young people who believe they'll never see a Social Security check. Here's a better way. Giving working Americans the choice to invest some of their Social Security dollars in personal retirement accounts. We can do this without touching a dime in Social Security funds, without raising one nickel in taxes, and without touching one penny of current benefits. A new century requires a new beginning—in approaches, in ideas, and, yes, in civility and cooperation between political parties. I'd like to close on a personal note. I'm a mother, a gardener, a Republican and a member of Congress. Believe me, all four take patience. My boys thankfully turned out to be wonderful young men. My plants at home unfortunately need a lot of work. And as for my efforts in the Congress, I am constantly planting and watering."

- Social Security (United States)

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"The big interests realize Roosevelt's plan would not cost them anything, which is the same as saying it will be no relief to the poor. Here is the proof of that admission from the financial page of the New York Times of January 18, 1935: The action of the stock markets yesterday indicated that Wall Street was not alarmed by the President's message to Congress on social security legislation. The financial community had been hopeful that the plan would not be so ambitious as to retard recovery. By its freedom from liquidation, when the message appeared on the news tickers, the market indicated that Wall Street did not feel that the plan would increase taxation unduly, since it would be largely self-sustaining. What Wall Street is saying by this dispatch is that the big men of Wall Street were a little bit apprehensive for fear Roosevelt would provide some relief or social legislation that would cost them something, but they are glad to see whatever he does will be self-sustaining. That is, the poor people who get relief will pay for it. In other words, the poor people will be allowed to help the poor people, a poor wage earner will be allowed to help his aged father or mother and take away a little more from his wife and children. "Ain't" that grand? Yet Wall Street says they are much pleased with it because it means they will not be touched for the necessary money to cure the ills of our people."

- Social Security (United States)

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"Just 10 days ago, after months of debate and deadlock, the bipartisan Commission on Social Security accomplished the seemingly impossible. Social security, as some of us had warned for so long, faced disaster. I, myself, have been talking about this problem for almost 30 years. As 1983 began, the system stood on the brink of bankruptcy, a double victim of our economic ills. First, a decade of rampant inflation drained its reserves as we tried to protect beneficiaries from the spiraling cost of living. Then the recession and the sudden end of inflation withered the expanding wage base and increasing revenues the system needs to support the 36 million Americans who depend on it. When the Speaker of the House, the Senate majority leader, and I performed the bipartisan—or formed the bipartisan Commission on Social Security, pundits and experts predicted that party divisions and conflicting interests would prevent the Commission from agreeing on a plan to save social security. Well, sometimes, even here in Washington, the cynics are wrong. Through compromise and cooperation, the members of the Commission overcame their differences and achieved a fair, workable plan. They proved that, when it comes to the national welfare, Americans can still pull together for the common good. Tonight, I'm especially pleased to join with the Speaker and the Senate majority leader in urging the Congress to enact this plan by Easter. There are elements in it, of course, that none of us prefers, but taken together it performs a package that all of us can support. It asks for some sacrifice by all—the self-employed, beneficiaries, workers, government employees, and the better-off among the retired—but it imposes an undue burden on none. And, in supporting it, we keep an important pledge to the American people: The integrity of the social security system will be preserved, and no one's payments will be reduced. The Commission's plan will do the job; indeed, it must do the job. We owe it to today's older Americans and today's younger workers. So, before we go any further, I ask you to join with me in saluting the members of the Commission who are here tonight and Senate Majority Leader Howard Baker and Speaker Tip O'Neill for a job well done. I hope and pray the bipartisan spirit that guided you in this endeavor will inspire all of us as we face the challenges of the year ahead."

- Social Security (United States)

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"I want you to know that when we believe the President is on the right track, we won't let partisan interests get in the way of what's good for the country. We will be first in line to work with him. But when he gets off track, we will be there to hold him accountable. And that's why we so strongly disagree with the President's plan to privatize Social Security. Let me share with you why I believe the President's plan is so dangerous. There's a lot we can do to improve American's retirement security, but it's wrong to replace the guaranteed benefit that Americans have earned with a guaranteed benefit cut of forty percent or more. Make no mistake, that's exactly what President Bush is proposing. The Bush plan would take our already record high $4.3 trillion national debt and put us another $2 trillion in the red. That's an immoral burden to place on the backs of the next generation. But maybe most of all, the Bush plan isn't really Social Security reform. It's more like Social Security roulette. Democrats are all for giving Americans more of a say and more choices when it comes to their retirement savings. But that doesn't mean taking Social Security's guarantee and gambling with it. And that's coming from a Senator who represents Las Vegas. Sometimes important questions like Social Security or the economy or education get reduced to dollars and cents or competing policies and political parties. But really, these are questions that are about old-fashioned moral values that don't get talked about much in Washington, but matter so much to our country. Are we willing to do right by our parents and care for our children? Do we believe that big corporations with powerful lobbyists should get special favors and that the wealthiest should get special tax breaks? Or do we believe we are all God's children and that each of us should get a fair shot and each of us deserves a say in our future? Will we be able to tell young people like Devon back in Searchlight that America is still the land of the open road and that you can travel that open road to the place of your choice?"

- Social Security (United States)

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