Tuesday, August 12, 2008

Chambliss, Isakson Statement on 73rd Anniversary of Social Security

U.S. Senators Saxby Chambliss, R-Ga., and Johnny Isakson, R-Ga., today made the following statements on the 73rd anniversary of the creation of the Social Security program.

“Social Security is, and has always been, an important program, and many seniors in Georgia and across the nation depend on this vital program,” said Chambliss. “Currently, nearly 48 million Americans are receiving some form of Social Security benefit. We must ensure that this program continues to provide benefits to the working Americans that deserve what they have earned. Today, Americans have been using this program to aid in their retirement for 73 years. Many have benefited and it is my hope that many will continue to have access to this program as we in Congress work to ensure that it remains solvent. I would like to take this opportunity to renew our commitment to making sure this program is around for many years to come.”

“We keep seeing a lot of numbers and dates tossed around, but the key date is 2019. That is the year that the amount of Social Security benefits we’re paying out will exceed the amount of payroll taxes we’re taking in. That’s just 11 years from now, and the financial picture only gets worse and worse after that year,” Isakson said. “It is imperative we strengthen this program that so many Georgia seniors have depended on for 73 years. Congress must move towards addressing the Social Security crisis and restoring trust with the American taxpayers over how Congress handles their money.”
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