[Congressional Record Volume 170, Number 144 (Tuesday, September 17, 2024)]
[House]
[Page H5243]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                            SOCIAL SECURITY

  The SPEAKER pro tempore. The Chair recognizes the gentleman from 
Connecticut (Mr. Larson) for 5 minutes.
  Mr. LARSON of Connecticut. Mr. Speaker, I rise today to address and 
speak about the Nation's number one antipoverty program for the elderly 
and the number one antipoverty program for children, and the program 
that more veterans rely on for disability than the VA. Of course, I am 
talking about Social Security.
  What the public doesn't know, but should, is that Congress hasn't 
acted to enhance Social Security since 1971. That is 53 years. A lot 
has transpired and happened over 53 years, and with 10,000 baby boomers 
a day becoming eligible for Social Security, it is long overdue that 
Congress acts.
  We have a proposal. Our proposal is called Social Security 2100, and 
this is exactly what it does. It makes sure that no one can retire into 
poverty. We have over 5 million Americans who have paid into Social 
Security and get below-poverty-level checks.
  Nobody gets wealthy on Social Security. The average is $18,000 per 
male and $14,000 per female. As I said, 5 million of our fellow 
citizens are getting below-poverty-level checks on a commitment they 
made to their government to get the insurance.
  That is what we are talking about here. It is insurance. Social 
Security also is one of the most efficient government programs. Its 
administrative costs are under 1 percent. There is no other agency that 
does that and services over 70 million people.
  I would also like to remind my colleagues on the other side of the 
aisle that Social Security is important because it impacts your 
district directly.
  Mr. Speaker, for example, you have 134,536 recipients: 95,000-plus 
are retirees; 15,000 are disabled; 8,756 are widows; and 9,942 are 
children. That is not the most critical thing though. The critical 
thing is: How much money comes into your district on a monthly basis?
  In California's 23rd District, it is $213 million a month, and that 
hasn't been adjusted since 1971.
  What do these people do with this money when they get it?
  They spend it right back in their district at the local grocery 
store, at the local pharmacy, to pay for their heating and cooling, to 
put gas in their automobiles. It, therefore, is a direct economic 
development plan for the people in this Nation who need it the most.
  For more than 40 percent of Americans, Social Security is the only 
benefit they have. They don't have benefits like the Federal Government 
has or like the United States Congress has. All they have is that very 
simple policy and a commitment from their government that they would 
make it actuarially sound. Instead, what they get is doubt and fear and 
the fact that the trust fund will be cut 20 percent now by 2033 if 
Congress continues to do nothing.
  It is long overdue.
  Why is it, citizens must ask, that Congress can't come together to 
take care of the very citizens whom they are sworn to serve on an 
insurance plan that is the most efficient in government operating under 
at 1 percent administrative cost.
  Mr. Speaker, you can't find another agency in the private sector, and 
I hail from an insurance capital, to administer insurances anywhere 
from 15 to 26 percent. In government they do it for under 1.
  Act, Congress.

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