[Congressional Record Volume 144, Number 118 (Wednesday, September 9, 1998)]
[House]
[Page H7434]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                        PROTECT SOCIAL SECURITY

  (Mr. KUCINICH asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. KUCINICH. Mr. Speaker, Social Security is a guarantee. No senior 
has ever gone without a benefits check, even in times of economic 
recession. That is because the full faith and credit of the United 
States stands behind the Social Security promise.
  Social Security is there for everyone. Wall Street is a gamble. 
Unlike Social Security, Wall Street cannot guarantee anything because 
the stock market is premised on a bet that there will be someone 
willing to pay a lot more for something than someone else will. The 
recent fall in the stock market should be a reminder: As with all 
gambles, there is a downside. What goes up must come down.
  Turning Social Security over to Wall Street will mean that senior 
retirees will have to check the Dow Jones before they check their 
mailboxes to see if they are going to have any money left for shelter, 
food and medicine. There is no reason to sell out Social Security to 
Wall Street.
  Privatization schemes trade away Social Security's guarantee for a 
Wall Street gamble. Americans do not need a gamble. Americans need to 
hear Congress reaffirm its commitment to its citizens. Protect Social 
Security.

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