[Congressional Record Volume 141, Number 135 (Friday, August 11, 1995)]
[Senate]
[Page S12412]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


 SENATE RESOLUTION 165--COMMENDING THE 60TH ANNIVERSARY OF THE SOCIAL 
                              SECURITY ACT

  Mr. PACKWOOD (for himself and Mr. Moynihan) submitted the following 
resolution; which was considered and agreed to:

                              S. Res. 165
       Whereas on August 14, 1935, President Franklin D. Roosevelt 
     signed the Social Security Act, which represents one of the 
     most significant legislative achievements of the 20th 
     century;
       Whereas the Social Security Act represents a national 
     commitment between the American Government and the people;
       Whereas Social Security is one of our Nation's most popular 
     and effective programs with a 60-year track record;
       Whereas 141,000,000 persons, along with their employers, 
     pay into the Social Security system;
       Whereas Social Security is an earned benefit for workers 
     and their families when a wage earner retires, becomes 
     disabled, or dies;
       Whereas over 44,000,000 persons, including 3,000,000 
     children, receive Social Security benefits that are 
     automatically adjusted for inflation;
       Whereas over 95 percent of those age 65 and over are 
     eligible for Social Security benefits, 4 out of 5 workers 
     have worked long enough so that they could get Social 
     Security benefits if they become severely disabled, and 98 
     percent of today's children would receive a monthly Social 
     Security benefit if a working parent died;
       Whereas Social Security benefits provide a financial base 
     for retirement, to be supplemented by private savings and 
     pensions;
       Whereas Social Security is the Nation's most successful 
     antipoverty program, saving 15,000,000 people from poverty;
       Whereas Social Security is viewed by the public as one of 
     the most important Government programs and as a pillar of 
     economic security;
       Whereas Social Security benefits help to maintain the 
     independence and dignity of all who receive such benefits;
       Whereas the American public has rejected cutting Social 
     Security to reduce the deficit;
       Whereas Social Security is a self-financed program that in 
     1994 had over $436,000,000,000 in reserves;
       Whereas reforms of Social Security benefits historically 
     have been made only to strengthen the program's long-term 
     integrity and solvency; and
       Whereas Congress recently enacted legislation establishing 
     the Social Security Administration as an independent agency 
     so as to strengthen its ability to better serve 
     beneficiaries: Now, therefore, be it
         Resolved, That the Social Security Act is hereby 
     commended on its 60th anniversary.
     

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