Mr. Speaker, I rise today to recognize the recent speech that my good friend and colleague from Connecticut, Congresswoman Rosa DeLauro, gave at Georgetown University on April 19, 2005. Representative DeLauro plainly and passionately…
Mr. Speaker, I rise today to recognize the recent speech that my good friend and colleague from Connecticut, Congresswoman Rosa DeLauro, gave at Georgetown University on April 19, 2005. Representative DeLauro plainly and passionately conveyed her opposition to privatizing Social Security. Moreover, Representative DeLauro clearly lays out how the values instilled in her by both her parents and the Catholic Church led to her opposition to privatizing this vitally important program that has kept millions of seniors out of poverty since it was signed into law in 1935. I applaud the Congresswoman's ability to connect her faith with her public service.
I would like to take this opportunity to insert Congresswoman DeLauro's speech into the Record and would encourage all my colleagues to take a few moments to read it.
It is always good to be here at Georgetown among friends--
so many good, young Democrats engaged in the process,
fighting for change, who understand the stakes of today's
political debates and want to take part in them. As the
future of the country, no one has more riding on them than
you. You know better than anyone that their outcomes will
determine the course of this country for decades to come.
And as College Democrats, you are committed to the values
of our Party. Not only are you working to elect Democratic
candidates, perhaps more importantly, you are encouraging
involvement and building excitement within the Party,
providing your peers with the skills and experiences
necessary to reinvigorate the Party from the grassroots. That
is something very precious--and so important right now.
Tonight, I wanted to discuss the values that not only unite
us Democrats but as Americans--particularly as to how they
have shaped and informed the Social Security program over the
years. Indeed, we hear so much about the importance of values
today--but oddly enough, little about what they are, where
they come from and what their implications are in government
and society. And so tonight, I would like to speak about that
nexus between values and public policy, a little about how my
values shaped my own views and led me into public life, and
how in the Social Security system we find a true reflection
of those values in the pursuit of the common good.
We can all agree that values encompass so much more than
the cultural flashpoints with which they are often associated
in the media today. Values should not be reduced to one or
two political issues. Rather, they are so much broader than
that--the guiding principles on which we conduct our lives.
Given to us by our parents and to them by their parents,
one's values are what give life meaning. They ground us and
provide the ethical framework within which we conduct our
lives and raise our families.
Mine were given to me by my parents, who came to this
country as Italian immigrants. In our household, I was
constantly reminded of the value of working hard to get ahead
and giving back to a country that had given so much to us. My
father, who dropped out of school in the seventh grade,
largely because students made fun of his broken English,
went on to become a proud veteran of this country--he
served his community. He sat on New Haven's City Council,
as did my mother, who served there for 35 years--well into
her 80's.
Working in a sweatshop sewing collars for pennies before
going on to a life of public service, my mother was a driving
force in my life and career. But to be sure, faith played a
large role in shaping my values as well, having attended
Catholic school from elementary school to college. It was
there that I learned to nourish my mind and my heart--to
reach out, to work hard, to fulfill my potential and be
whatever I wanted to be. But it also taught me about right
and wrong, personal responsibility and how to nourish my
community, my neighbors--to give something back to my world,
to the people of that world.
In a broader sense, it was the church that bound us
together as a community in my neighborhood--in our schools,
in our hospitals. My father received communion daily--and
lived his faith with commitment. Our local parish and our
kitchen table were our community center--where people
gathered to share their lives and help one another. Every
night around my family's kitchen table, I saw how faith could
serve as the nexus between family and community. There, I
would witness firsthand how my parents helped solve the
problems of people in our neighborhood.
With my parents' example and my Catholic upbringing, I
learned the vital connection between family, faith,
responsibility, community, and working for the common good--
that values learned at home and at church effected change at
the community level both profound and undeniable. It showed
me that government can and must play a critical role in
helping people make the most of their own abilities and how
to meet their responsibilities to each other and society as a
whole.
My own story is hardly unique. Many of these values have
helped shape America's public policy over the course of our
nation's history. Indeed, many of the economic and social
achievements of the past century have their roots in this
vision of opportunity and responsibility, community, a
recognition of our obligations to each other--including
Medicaid, Head Start, the child tax credit, and the GI Bill,
to name but a few.
Perhaps the ultimate legislative expression of our nation's
shared values and those I learned growing up is Social
Security, which for 7 decades now has tied generation to
generation, ensuring that those seniors have a secure
retirement after a lifetime of work. Social Security was born
in part out of
FDR's appreciation for Catholic Social Teaching and Monsignor
John Ryan's role in advocating programs based on the social
letters of Pope Pius the Eleventh and particularly Pope Leo
the Thirteenth's Rerum Novarum, which read, ``Among the
several purposes of a society, one should try to arrange for
. . . a fund out of which the members may be effectually
helped in their needs, not only in the cases of accident, but
also in sickness, old age, and distress.'' In that respect,
Social Security was the embodiment of those teachings--a
declaration that our human rights are realized in community.
Such sentiments were reflected in FDR's words to the
Congress in 1934, when he said, ``We are compelled to employ
the active interest of the Nation as a whole through
government in order to encourage a greater security for each
individual who composes it.''
For FDR, Social Security was one way we could promote and
maintain our shared values by rewarding work and ensuring a
decent retirement for those who have worked a lifetime. And
by depending on and encouraging younger generations to take
responsibility, too, Social Security reinforced the idea that
in America, we do not leave every man or woman to fend for
himself or herself--that we do not tolerate the
impoverishment of our senior population. Those are our
nation's values and they are perpetuated by the very
construct of our Social Security program.
Indeed, with the first Social Security check issued,
poverty among the elderly began to drop. In the 1950s, more
than 30 percent of elderly Americans lived out their last
years in poverty--today that figure is about 10 percent, with
2 out of 3 seniors today relying on Social Security as the
prime source of their monthly income, including three-
quarters of all elderly women.
And Social Security is not just for people like our parents
and grandparents--a third of the 47 million people who rely
on the program are the disabled, widows and children. All
told, that is 47 million people--parents, grandparents,
widows and children--who do not have to rely solely on their
families for financial support because they have the help of
Social Security.
For women who on average earn less and spend less time in
the workforce, Social Security is a blessing. Women comprise
nearly 60 percent of all seniors on Social Security--a
majority of whom would be living in poverty without it. More
than half of all women receiving benefits do so as the spouse
of a retired worker, but for 4 in 10 women living on their
own, the program accounts for 90 percent of their retirement
income.
So essentially, Social Security functions not only as a
safety net for older Americans, but in a way, for the rest of
us--a kind of family insurance guaranteeing that we can live
our own lives and raise our own children, confident that our
parents and loved ones have something to rely on and can live
independently of us. It is without a doubt the most
successful, efficient middle-class retirement program we
have--a ``national achievement'' that we can be proud of as
individuals and as members of a good and decent society.
Yet today, the commitment to opportunity and community out
of which Social Security was created has frayed. For sure, a
coarseness to our culture today in our politics and in the
media has deepened divisions in society. But I think it goes
deeper than that. Today, pleas for community and the common
good have taken a backseat to appeals to self-interest,
sometimes greed, and extreme individualism--policies that
make us more unequal and divided. And where government was
once seen as a vehicle for our shared values, today it is
often viewed with suspicion and mistrust.
Indeed, no debate is more symbolic of the forces at play in
today's society than the one surrounding the future of Social
Security. Despite the program's unqualified success, the
president wants to change it. The reason he gives is that in
2018, benefits being paid out begin to exceed what Social
Security is taking in in payroll taxes, even though Social
Security will be able to pay 100 percent of benefits until
2041. Even after 2041, the Social Security Trust Fund does
not go bankrupt, because the program will still be able to
pay between 70 and 80 percent of its benefits.
Congress must address the funding shortfall in the middle
of the century. Yet what President Bush is proposing is that
we radically change this successful program--privatizing
Social Security by diverting a third of payroll taxes that
pay benefits today into private, individual accounts that can
be invested in the stock market.
I think the Catholic Bishops had it right, when they wrote
extensively on this issue at the end of the 1990's as
Republicans were advocating for Social Security's
privatization. The Bishops said then that Social Security had
been established as an insurance program in which, quote,
``society as a whole buffers the individual and collective
risks that workers and their families face.'' They went on to
say that turning Social Security into an investment vehicle
for individuals, quote, ``does not guarantee an adequate or
assured retirement program'' for our senior population.
But that is precisely what President Bush wants to do. He
wants turn Social Security into an investment program--a tool
to create personal wealth. And I fail to see how a program
benefiting our national community, rooted in values that
promote the common good and reinforce the idea that we are
all in this together, is improved by private accounts. These
values go to the heart of what I believe as a Democrat and as
a Catholic.
Besides, privatization does nothing to address the expected
shortfall in the current Social Security system--the reason
President Bush brought up privatization in the first place.
In fact, by taking money out of the trust fund to create
private accounts, the president's proposal makes the problem
worse. Secondly, privatization will balloon our half-trillion
dollar deficit by as much as $5 trillion in the next 20 years
because we will still have to pay benefits to current
retirees at the same time we are taking money out of the
system to create private accounts. That means higher interest
rates for buying a house, a car or going back to school.
Third, we would be eliminating the program's guaranteed
benefit and requiring benefit cuts that the Administration
itself has estimated will be as steep as 40 percent--all for
a plan that does not even address the underlying problem. The
amount retirees get from Social Security is already modest--
about $955 per month, $11,500 per year, enough to pay for
most basic needs, but hardly enough to get by on alone.
And for women, for whom Social Security has been such a
success, the effects of privatization would be disastrous, as
confirmed by a recent report by the National Women's Law
Center. For 29 percent of women, Social Security is the only
retirement package available. Privatization would replace the
program's progressive benefit structure with private accounts
based only on a worker's contributions to the account--
cutting the average widow's benefit in my state of
Connecticut to a paltry $518 per month.
And privatization is not only a bad deal for our mothers
and grandmothers--but for young women as well. For all our
gains, women still earn less--77 cents for every dollar men
earn--even though we live longer. And the Social Security
Administration itself predicts that 65 years from now, 40
percent of married women will still receive benefits based on
their husband's higher earnings record.
You might be asking--but what about the increased benefits
from the stock market? Well, you do not get to keep the full
Social Security and the full private account. The
average private account would be taxed at 70 percent
through monthly deductions from your Social Security
check. This privatization tax would come on top of the
benefit cuts that will affect all Social Security
beneficiaries.
It is complicated, but when you retire, you essentially
have to pay the money you put into your private account back
to the government. So, at the same time that the private
accounts would be adding to your income, a large portion of
that additional income would be offset dollar for dollar
through reductions in your guaranteed Social Security check.
And that would be regardless of how well your private account
performed.
But well beyond the financial implications of
privatization--and there are many--are its moral
implications. As The National Catholic Reporter editorialized
recently, what we risk losing with privatization is so much
more than money. We risk losing the agreement that we have
maintained for the past half-century that we are all in this
together. We risk losing faith with the understanding that
all workers--poorest to richest--contribute to something in
common and that everyone gets something in return. And we
abandon the sense that despite differences in political
outlook and social standing, we all believe that is good for
society to guarantee a minimum standard of economy security
for its oldest, disabled and widowed citizens. That is what
privatization risks.
As someone who has had the privilege of serving in the
Congress of the United States for over a decade-and-a-half,
representing more than a half-million people, I believe that
government has an obligation to play a role in making
opportunity real--a moral obligation. I do not believe in
every man or woman for himself or herself. I believe in
values like shared responsibility and personal
responsibility. I believe in what we can achieve together.
Those are the principles at the core of Social Security. They
are what drive me--they are what drive you. They are what
drive each of us as Democrats and Americans.
The fight to preserve Social Security and make it as
successful in the 21st Century as it was in the last is a
struggle that every American has a stake in--but no one more
than the younger generation. This is a defining challenge for
us--a statement about the kind of country we want America to
be. As Franklin Roosevelt told Congress, Social Security is a
``return to values lost in the course of our economic
development and expansion.''
That is our challenge today, as well--to bring change,
while affirming our values as Americans and as Democrats.
Indeed, in 1983, bankruptcy was only a year off--one year,
not 37. Back then, Congress and President Reagan worked
together on a bipartisan commission that ensured Social
Security would be solvent for generations. And they did it
not by changing the fundamental nature of the program but by
making minor adjustments to the benefits and financing
structures.
In my view, that is the example of bipartisanship we should
draw upon. With so much at stake for our communities and the
country, I believe we need that kind of bipartisanship in
this debate--one that achieves consensus, strengthens the
program's guaranteed benefit in retirement and reflects our
nation's shared values. Because this fight is
not only about stopping the bad idea that is privatization--
it is about promoting and maintaining the good idea that was
and is Social Security.
As students looking forward to lives of your own, raising
families and embarking on careers, you have been given a
remarkable opportunity--to put the values your parents
instilled in you to use in society, in whatever career you
choose.
My challenge to you today is: how are you going to seize
this opportunity--to give back and have a say in this debate
which is so important to our shared values? What role will
you play in ensuring future generations have the quality of
life you and your families have had? I do not pretend to have
all the answers. But if my own experiences have taught me
anything, it is that bringing our values to the public sphere
is not a matter of expediency but of moral and civic
obligation--a call I hope each of you choose to answer.
Thank you for this honor and this opportunity.