Pelosi on 75th Anniversary of Social Security: 'Democrats Will Keep Our Promises to Seniors Now and Into the Future'

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Jul 28, 2010, 12:50 ET

WASHINGTON, July 28 /PRNewswire-USNewswire/ -- Speaker Nancy Pelosi, House Democratic Leaders, and House Democrats held a press event this morning on the House Steps of the Capitol to commemorate the 75th anniversary of the Social Security Act, which President Franklin D. Roosevelt signed into law on August 14, 1935. Below are the Speaker's opening remarks and closing statement.

Speaker Pelosi Opening Remarks:

"Good morning. Upon signing the Social Security Act 75 years ago next month, President Franklin Roosevelt said that this new law was intended to 'give some measure of protection to the average citizen and to his family…against poverty-ridden old age.'

"In this statement, and with the bold stroke of a pen, FDR made Social Security a bedrock promise for the American people: that after a lifetime of work, this country would protect its seniors, now and for generations to come.

"Today, Democrats stand together to follow in those footsteps and uphold our pledge of economic security and stability for all hard-working Americans. Unfortunately, Congressional Republicans disagree, proposing, yet again, a path that puts Social Security – and the livelihoods of those who depend on it – at risk.

"Just five years ago, President Bush and his Republican allies pushed a risky plan to privatize and cut Social Security. If they had succeeded, seniors would have lost trillions more in the financial crisis. At the time, Democrats and the American people said 'no.' And no one lost a penny in Social Security – even as America's households lost more than $17 trillion in wealth under the reckless economic policies of the previous Administration.

"This year, Republicans are charting a course right back to the failed ideas of the past. Again, Democrats and the American people are saying 'no.' We are not going back to the 'exact same agenda' of the Bush years.

"Americans work their entire lives to earn Social Security. And 75 years after FDR made his promise to our seniors, Democrats are ready to take our case to America's families: to remind them that Social Security is not the cause of our budget deficits; that Social Security has remained strong through 13 recessions, and will stand strong through this one; and the party responsible for Social Security—the Democrats—remains committed to ensuring the stable retirement our seniors which they have earned.

"We remain dedicated, in FDR's words, to providing 'some measure of protection' to our workers for the long term. And now we will keep our promises to our seniors now and into the future.

"And now, I want to yield to the distinguished Majority Leader of the House, Mr. Hoyer."

Speaker Pelosi Closing Statement:

"Thank you very much, Dina Titus. Thank you for your leadership and being a champion for America's seniors. I am pleased to join my colleagues in the leadership, those who have spoken and so many who have proven that they can take the heat standing out here, and that includes many of you as well.

"I think the debate is going to be very clear on this subject. In the days leading up to and those following August 14th, which is the 75th anniversary of Social Security, as we have said, we will see Democrats are there to preserve Social Security; Republicans are there to privatize Social Security. We will see Democrats who are there to make sure that seniors have Social Security and the Republican policy will lead to social insecurity. So we call upon the public to engage in this debate. It's very important as a value in our country. It's very important for the respect that we have for our seniors. It's very important in terms of the promise that we have made. That promise will be kept, not only for this generation of seniors but generations to come.

"So again, I thank my colleagues for their participation in this. I thank them for what they have done, what they are going to be doing as we go into August so that we can say, as we say happy birthday to Social Security, we will say may we wish you many, many generations to come. Thank you all very much."

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