[Congressional Record (Bound Edition), Volume 157 (2011), Part 11]
[House]
[Page 15517]
[From the U.S. Government Publishing Office, www.gpo.gov]




                              {time}  1200
 SOCIAL SECURITY, MEDICARE, AND MEDICAID: KEEPING FAITH WITH AMERICA'S 
                  SENIORS, THE DISABLED, AND THE NEEDY

  (Ms. SCHAKOWSKY asked and was given permission to address the House 
for 1 minute.)
  Ms. SCHAKOWSKY. Madam Speaker, I rise today to issue a warning to 
America's seniors and working families: Top Republicans are still 
trying to privatize Social Security. The GOP Budget Chairman Paul Ryan, 
author of the budget that ends Medicare and increased health costs for 
seniors, admitted he views Social Security as a Ponzi scheme. And 
Congressman Pete Sessions, who serves in House leadership for the GOP, 
introduced legislation labeled ``Savings Account For Every American 
Act'' that would have people opt out of Social Security by sending 
their contributions to a private account.
  According to Stephen Goss, Social Security's chief actuary, this 
change will ``severely compromise'' the ability to pay for current 
seniors and those near retirement. ``So Social Security, the ability to 
pay benefits to people who are currently receiving, or are now 
approaching the time of receiving benefits, would be severely 
compromised. Our year of trust fund exhaustion would certainly come to 
be much sooner than 2036.'' In other words, the plan of the Republicans 
to privatize Social Security would put that program that has never 
missed a check to Americans in danger. We need to oppose those efforts.

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