Mary Jo Kilroy on Social Security

No severe changes; no privatization.

RESOLUTION Expressing the sense of the House of Representatives against severe changes to Social Security.
• Whereas Social Security's essential protections for workers and their families cannot be matched by private savings, which are a complement to, but not a substitute for, Social Security's guaranteed benefits;
• Whereas, as one such protection, Social Security provides a guaranteed benefit that one can never outlive, and unlike private savings or investments, is not subject to the ups and downs of the stock market;
• Whereas, for 75 years, Social Security has never been a day late or a dollar short;
• Whereas the American people made clear in 2005 that they did not seek severe change in Social Security when they resoundingly rejected President Bush's attempt to privatize Social Security;
• Whereas the current minority party plan for Social Security is even more extreme than the plan they advanced in 2005:
  1. it cuts guaranteed retirement and survivor benefits for all workers, whether or not they wish to have a private account;
  2. it diverts trillions from the Trust Fund into private accounts;
  3. it increases Federal borrowing by $4,100,000,000,000; and
  4. it subjects workers' basic retirement security to market volatility and the risk of losses; and
• Whereas privatizing Social Security means benefit cuts, diversion of Trust Fund resources, subjecting individuals to market risk and losses, and increasing Federal borrowing by trillions of dollars:
• Now, therefore, be it Resolved, That the Congress should stand with the American people to reject severe changes to Social Security, including any and all attempts to privatize Social Security, and instead should commit to work bipartisanly to make common-sense adjustments to Social Security to strengthen it for future generations while preserving its guarantees of secure income and family protection in the event of a worker's death, retirement, or severe disability.