Social Security Funding Quotes

We need to strengthen and save Social Security for today's workers. If we don't act now, this system, born out of the New Deal, will become a bad deal.

Our country also hungers for leadership to ensure the long-term survival of our Social Security system. With 70 million baby boomers in this country on the verge of retirement, we need to take action to shore up the system.

If a country like Chile can fix its social security system, there is no reason a country as great as the United States... can't fix our Social Security system.

One of the reasons that Social Security is in so much trouble is that the only funding stream comes from people who get a wage. The people who get wages is declining dramatically. Most of the income in this country is made by people at the top who get dividends and - and capital gains.

I don't understand the Democrats' approach to Social Security in this country, and I'm not alone.

Did folks know that the tax to fund the program [Social Security] only hits salaries up to $110,000? That means that if you make a million bucks, about 90% of your salary is tax free when it comes to the payroll tax that funds Soc Sec. That ain't right.

As a member of the Senate Aging Committee, I've gone to bat for seniors by cracking down on senior fraud, combating price gouging by pharmaceutical companies, and pushing for wealthy individuals to contribute their fair share to Social Security.

The debate over Social Security should not be about how much we can cut from the program in order to balance the federal budget. The debate over Social Security should not be about raising the retirement age or limiting benefits. The debate over Social Security should be about retirement security.

Social Security is legally prohibited from contributing to the deficit. It cannot use debt to pay out benefits.

If we do not act now to strengthen Social Security, the system that so many depend upon today will be unable to meet its promises to tomorrow's retirees, and it will burden our children and grandchildren with exhaustive taxes.

Increasing the minimum wagewill put billions annually into the Social Security trust fund.

Unlike most government programs, Social Security and, in part, Medicare are funded by payroll taxes dedicated specifically to them. Some of the tax revenue pays for current benefits; anything that's left over goes into trust funds for the future. The programs were designed this way for political reasons.

If we can get to that 3 percent grow, it is $2 trillion to $2.5 trillion worth of more government revenues. It's 12 million additional jobs. And those are 12 million jobs paying into Medicare, 12 million jobs paying into Social Security. Growth really is what's driving all of this and growth is what our focus is, which is why we're willing to accept increased short-term deficits in exchange for that long-term payoff.

While the feds … leave Social Security off their books, the government's obligation to make benefit payments to current and near-term Social Security recipients is certainly no less real than its obligation to pay interest on its Treasury bonds.

Even the Congressional Budget Office and the Social Security trustees appointed by the president say that Social Security is financially sound, without any changes for the next 40 to 50 years.

We want to make sure that Social Security is fixed for those people who have had that promise and there's something in the future for our younger workers. And we're not about to do a welfare program.

The President and I agree that Social Security needs to be preserved so that we can ensure that all Americans receive the retirement benefits they've been promised. But we disagree as to how best to fix the system.

Social Security is something that we need to deal with, because people who are working today, who will retire in the future, people who are retired today, they have a right - and it's part of the compact that they can depend on their benefits. We should fix the long-term funding problem of Social Security because that's the right thing to do.

We must ensure that today's seniors' benefits are rock solid and find a solution that fixes Social Security for the next generation that is just entering the workforce.

It's not 2038 that Social Security is bankrupt. It's now.

I do not believe that the Social Security system is in crisis.

I believe it's time to put our best ideas on the table and work toward a bipartisan solution, with the single goal of leaving the Social Security system stronger than we found it.

I welcome the Democrats' ideas on Social Security. I think it is very important to make a bipartisan reform.

And it's also producing a growth in debt to the United States that will weight very heavily in a country that has to address issues like having more old people to be covered by Social Security or by pension in the future.

It's hard to exaggerate the importance of preserving the financial integrity of Social Security.