[Congressional Record Volume 151, Number 26 (Tuesday, March 8, 2005)]
[House]
[Page H995]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                     SOCIAL SECURITY IS NOT SECURE

  (Mr. PRICE of Georgia asked and was given permission to address the 
House for 1 minute and to revise and extend his remarks.)
  Mr. PRICE of Georgia. Mr. Speaker, you know Social Security is 
quickly becoming social insecurity for millions of Americans 
approaching retirement. Let us take a step back for a moment and take 
the politics and the pundits and rhetoric out of the debate, and let us 
examine the most overlooked aspect of what has been discussed thus far, 
the facts.
  Fact: Social Security is safe for today's seniors, but is in serious 
danger for our children and our grandchildren. Fact: since the 1950s, 
the number of retirees has been rising faster than the number of 
workers. And fact: without reforms, Social Security is not sustainable 
in the long run.
  Mr. Speaker, the system is not in crisis; the system is not in limbo. 
The system which worked well for many, many years is now broken.
  Payroll taxes have been raised 20 times since the 1930s to keep the 
system functioning, and that is no longer an option. Soon Social 
Security will be paying out more than it takes in. No matter which side 
of the aisle you are on, if things continue the way they are, there 
will be no security for our children and our grandchildren.

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