On the 75th Anniversary of Social Security: Still Fighting for America's Seniors By Christopher Hass

On the 75th Anniversary of Social Security: Still Fighting for America's Seniors
By Christopher Hass - Aug 14, 2010 4:01:12 PM ET

On today's 75th anniversary of Social Security, President Obama promised to protect it from Republican leaders in Congress who have made privatization a key part of their agenda:



"Seventy-five years ago today, in the midst of the Great Depression, Franklin Roosevelt signed Social Security into law, laying a cornerstone in the foundation of America’s middle class, and assuring generations of America’s seniors that after a lifetime of hard work, they’d have a chance to retire with dignity. We have an obligation to keep that promise; to safeguard Social Security for our seniors, people with disabilities, and all Americans – today, tomorrow, and forever.

...One thing we can’t afford to do though is privatize Social Security – an ill-conceived idea that would add trillions of dollars to our budget deficit while tying your benefits to the whims of Wall Street traders and the ups and downs of the stock market.

...Some Republican leaders in Congress don’t seem to have learned any lessons from the past few years. They’re pushing to make privatizing Social Security a key part of their legislative agenda if they win a majority in Congress this fall. It’s right up there on their to-do list with repealing some of the Medicare benefits and reforms that are adding at least a dozen years to the fiscal health of Medicare – the single longest extension in history.

That agenda is wrong for seniors, it’s wrong for America, and I won’t let it happen. Not while I’m President.

...Seventy-five years ago today, Franklin Roosevelt made a promise. He promised that from that day forward, we’d offer – quote – 'some measure of protection to the average citizen and to his family against poverty-stricken old age.' That’s a promise each generation of Americans has kept. And it’s a promise America will continue to keep so long as I have the honor of serving as President."