Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days in which to revise and extend their remarks and include extraneous material on the subject of my Special Order today. Mr. Speaker, it is my great privilege…
Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days in which to revise and extend their remarks and include extraneous material on the subject of my Special Order today.
Mr. Speaker, it is my great privilege this evening to be able to address a vital subject to all of America, that of preserving and strengthening Social Security. Many of us have had the opportunity over the break to go back to our districts and hold public forums and hearings and town hall meetings, and the input that we received from our citizens has been extraordinary and insightful.
This evening, we will be joined by distinguished members of our caucus, the gentleman from Michigan (Mr. Levin), the gentlewoman from Illinois (Ms. Schakowsky), the gentlewoman from California (Ms. Woolsey), and hopefully others who will be joining us as well as we seek to report back to America about what is going on.
We are most fortunate to have the man who has followed in the footsteps of the dearly departed Bob Matsui who was a champion on Social Security. The gentleman from Michigan (Mr. Levin) is the leading expert in our caucus and on the Committee on Ways and Means in matters of Social Security and has held these forums and hearings not only in his State but has been on
shows and appeared all across this great Nation. I yield to the gentleman from Michigan.
So these forums that the President is conducting are not open to the public, that you have to be invited by the President's people? Carl Rove?
When the gentleman says the privatization proposal, this is the so-called plan that perhaps the President may submit to us?
So this privatization plan will lead to a cut of more than 40 percent in benefits. We heard the gentleman from New York (Mr. Rangel) say earlier that it does not even solve the gap or the supposed problem that the gentleman from Arizona was alluding to. Is that correct?
This is confusing to some of our citizens. The gentleman from Michigan is an expert on this. He has served on the committee. Why does this transfer have to take place? Seniors are asking about this. Some have said, this is like taking a credit card of your own and trying to go out and purchase stock with your credit card in the hope that the stock's returns will exceed both the interest you are paying on that credit card. This is hard to understand for a generation that has relied on Social Security as a guarantee. What actually happens?
Mr. Speaker, reclaiming my time, I thank the gentleman from Michigan (Mr. Levin) again for his insight and his outstanding service to the Committee on Ways and Means in this United States Congress.
I think Roosevelt said it best when referring to our distinguished colleagues on the other side of the aisle. With regard to Social Security and its impact and the plight that so many citizens go through, he said, they are frozen in the ice of their own indifference, the indifference to what ordinary Americans face on a daily basis.
No one understands that better than the gentlewoman from Illinois (Ms. Schakowsky), who works on their behalf every single day and fights for them and has done an outstanding job in her district and beyond and also held public hearings and is here this evening to add to this dialogue.
Mr. Speaker, I yield to the gentlewoman from Illinois (Ms. Schakowsky).
Mr. Speaker, reclaiming my time, that is an excellent point, and the gentlewoman from Michigan (Ms. Kilpatrick) made it earlier as well when she stated quite succinctly and clearly, Social Security was never intended to be in and of itself the retirement vehicle. It was, as she pointed out, the third leg of a three-legged stool, having pensions, which we know are under stressed everywhere; personal savings, where it is so difficult for people to save; but the thing that people could count on.
The reason that it came into existence was to provide, as the gentlewoman has pointed out, an absolute guarantee, the full faith and credit of the United States of America standing behind its commitment to its citizens. It is as simple and as fundamental as that and more eloquently stated by our citizens and the young women who have come to forums and hearings and town hall meetings like the gentlewoman's all across this country.
I yield to the gentlewoman from Illinois.
Mr. Speaker, reclaiming my time, I thank the gentlewoman from Illinois for her insightful comments and for her continued diligent work in this area on behalf of all of our citizens, but especially for all women across this great country of ours.
Mr. Speaker, speaking of a leader on those issues, we are also most fortunate to have the gentlewoman from California with us here this evening who also has done an outstanding job in the caucus and on committee in terms of focusing on the needs of women and children and families all across this great country of ours.
Mr. Speaker, I yield to the gentlewoman from California (Ms. Woolsey).
Mr. Speaker, reclaiming my time, did most of the individuals who attended the gentlewoman's forums and public hearings understand that Social Security
benefits were not just retirement benefits, that they also provided survivor benefits?
I yield to the gentlewoman from California.
Mr. Speaker, reclaiming my time, the gentlewoman may have heard what the gentleman from Arizona (Mr. Flake) said earlier.
Mr. Speaker, it is interesting that they were friends during the Medicare debate but now that they have spoken out against Social Security, they are now a special interest group.
Mr. Speaker, reclaiming my time, the gentlewoman raises a very excellent point, and, again, it is the same point that was raised earlier by the gentlewoman from Michigan (Ms. Kilpatrick) and also the gentlewoman from Illinois (Ms. Schakowsky). What we need, and the guarantee that we have provided every American through Social Security, is, as the gentlewoman pointed out, a safety net, a floor from which they cannot fall through. And, as the gentlewoman pointed out, our pension systems are already overstressed. We have gone from defined benefit to defined contribution to companies pulling out, wholesale, from providing benefits, to people's personal savings where, again, the gentlewoman points out the difficulty that people have, the lack of incentives that are there for them to save.
So the question that a lot of the people at my forums ask is why would we introduce an element of risk in the only guarantee that we have on that three-legged stool that prevents us from falling through the floor and into the depths of poverty, which for a woman in this country is so vitally important.
I yield to the gentleman from California.
Mr. Speaker, reclaiming my time, no, I did not. But I think the gentleman from New York (Mr. Rangel), our distinguished leader on the Committee on Ways and Means, said earlier that clearly the President has asked us to wait until he brings forward a plan. He has withdrawn the fact that this is a crisis, but points out there are problems.
Everyone recognizes that there are problems with Social Security and Social Security needs to be strengthened. But the President further goes on to now admit, as well as the gentleman from New York (Mr. Rangel) points out, when the actuaries and the financial people have a chance to look at the proposed plan, that it does nothing to solve the problems that the President has spelled out in Social Security.
So one has to come away with thinking as to why would they possibly then want to privatize or introduce risk in the most successful governmental program in the history of this country.
Mr. Speaker, reclaiming my time, it might
surprise a number of our viewers, because I believe the gentleman from Arizona was talking before about the need to get the facts straight. I believe that the gentleman is correct about that, and there should be an open and honest and frank debate about this issue, and all the various proposals should be laid on the table. The gentleman from New York (Mr. Rangel) has asked for that, where we still have not seen any plan. We are told by Secretary Bolton and others that it is a ``work in progress,'' that we may see it in the future.
In the meantime, I think a number of our listeners would be interested to know that in 2000, Social Security lifted 7 million senior women out of poverty. This means that without that safety net, without that floor which they cannot fall through because it has the full faith and credit of the American Government, it is the social contract we have with our people who have paid in to this system, that it is there for them. It is a guarantee.
Mr. Speaker, reclaiming my time, it might also surprise people too, when we are talking about Social Security, I know for many people, from Hoover to Landon to Friedman to Stockman, that Social Security is anathema. It is something that they would just as soon do away with. Mr. Stockman said it is ``a beast that needs to be starved.''
When we look at the policies emanating from this administration, you wonder if this is not still the plan that they are marching forward with, to privatize and to further starve the moneys that are needed.
How much money do people receive on average? What does someone get who has worked hard and played by the rules and sacrificed all their life, whether they be people that are currently serving in Afghanistan or Iraq, or whether they are firefighters or our police, or whether they are in the hospitals as nurses or other people?
The monthly retirement benefit for a woman is $798. In America, could you live on $798 a month? This is what the guarantee is. But it does prevent these people from falling into the depths of poverty. It is what Franklin Delano Roosevelt promised to the American people.
Mr. Speaker, reclaiming my time, many have said to me in my forums as well, and I am sure the gentlewoman heard the same thing, and I am pleased to announce we have been joined by two distinguished Members from the Great State of California as well to contribute to this dialogue, but many have said at the hearings that I have conducted how Social Security for so many of them is their only source of income, and they look out and they see their pensions disappearing, they see cuts that are being made on a regular basis, and so they ask aloud for the government to please honor, honor, what it has promised and guaranteed them and what they have worked so hard for throughout all of their life.
I think it is important, as the gentleman from Arizona said, that we get the facts out there and expose the myths that have been put forward.
Mr. Speaker, I thank the gentlewoman for articulating that point.
I am pleased now to turn to the gentlewoman from California (Mrs. Capps), who also has spoken and held hearings in her district and is here this evening to contribute to this very important dialogue about the strengthening of Social Security and pointing out the direct impact that it has on women who rely so heavily on Social Security.
Mr. Speaker, reclaiming my time, let me echo the sentiments of the gentlewoman and commend the outstanding leadership that has been provided by the gentlewoman from California (Ms. Solis).
I yield to the gentlewoman.
Mr. Speaker, reclaiming my time, I know the gentleman from New York (Mr. Rangel) left here and spoke earlier, eloquently as always, left here so he could be with you and share remarks with you over there as well.
The gentlewoman is absolutely correct. And I thank her for pointing that out. I would like to yield to both the gentlewomen from California to finish off the remainder of our time and focus on the specific needs and concerns that you both articulate so well Mrs. Capps.