First developed in the 1930s as a cornerstone achievement of the New Deal, Social Security provides essential benefits to retired or disabled workers and their family members. The program has kept millions of Americans out of poverty and allowed countless more to maintain independent and financially secure lives during their retirement years.
As the baby boom generation reaches retirement, Social Security faces unprecedented, but manageable, challenges. It is not in crisis or beyond repair, as the Republicans have tried to scare younger workers into believing. Even on its current path, Social Security will be fully solvent through 2036, and even after that it will continue to be able to pay 80 percent of benefits.
Social Security does not contribute to the deficit, and the current debt challenges we face should not be leveraged to undermine one of our nation’s great safety net programs. I want to save and strengthen Social Security well into the future. I stand with the majority of the American public, which believes that Social Security needs a solid source of funding, not a plan that makes the problem worse by draining trillions of dollars from the Trust Fund and endangering the retirement benefits of millions of deserving Americans. It is vital that all seniors, people with disabilities, and their families have a benefit that they can count on.
A Basic Commitment to Preserve Benefits
At the very least, Social Security benefits should maintain their purchasing power over time. This ensures that beneficiaries can sustain a reasonable standard of living. With this in mind, I oppose proposals to minimize this program such as privatization, raising the retirement age, and benefit cuts, such as through switching to a “chained” CPI. These initiatives would endanger the financial security of millions at a time when this safety net is increasingly important.
The federal budget should reflect our priorities, and should take measures to strengthen, and extend the life of Social Security. Throughout the recent deficit reduction debates in Congress I have stood with my colleagues in the Congressional Progressive Caucus in leading the efforts to support and enhance our social security system, and will continue to do so as budget negotiations continue.
A Comprehensive Approach to Retirement
Many Americans are worried about retirement security – whether the combination of Social Security, their 401 (k) plan or pension, and their savings will be enough to live on. While I’m fighting to protect Social Security, I also believe the federal government should encourage and reward financially responsible behavior.
I will fight to ensure that all workers are paid the benefits they were promised. I am working to secure pension benefits, make it easier for everyone to save for retirement by enhancing and strengthening investment vehicles like 401(k)s and IRA plans, and to provide clear information on retirement investment options. Combining that approach with a secure and stable Social Security safety net will give American retirees greater certainty in the years to come.
More on Social Security
Washington, DC – Congressman Mike Honda (D-Santa Clara) will be joined by Claudia Flores, an immigration rights activist and Congressional fellow who was allowed to stay in the United States thanks to the Deferred Action for Childhood Arrivals program (DACA), at tonight’s State of the Union Address.
Santa Clara, CA – The district office of Congressman Mike Honda (D-CA17) has moved to Santa Clara, effective Monday, January 12th. The new office is at 900 Lafayette Street, at the corner of Homestead Road, conveniently located near the Santa Clara University Campus, not far from the 880 and 101 freeways, and a 10-minute walk from the Santa Clara CalTrain station. The phone and fax numbers will stay the same.
Like the previous location, the new office will be open Monday to Friday from 9:00 a.m. to 5:00 p.m. Pacific Time.
Washington, D.C. – Congressman Mike Honda (D-CA17) today said he would work closely with President Obama and his fellow House members on plans the President laid out in his State of the Union address.
“Tonight we heard a President, who understands the needs of hard-working Americans, outline an agenda to help them overcome the challenges our country faces,” Congressman Honda said. “I look forward to working with the President, and my colleagues in Congress, to enact legislation to get this done.”
Washington, DC – Congressman Honda (D-Silicon Valley) today lauded the US House of Representatives for passing the Consolidated Appropriations Act for Fiscal Year 2014, and called on the Senate to pass it immediately.
Washington, D.C. – Commemorating the 50th anniversary of President Lyndon Johnson’s declaration of a “War on Poverty,” Congressman Mike Honda (D-CA) called on Congress to extend unemployment benefits, fully fund Head Start, and strengthen Social Security to help those Americans in the greatest need.
Speaking yesterday at a joint press conference held by the Out of Poverty Caucus, Congressman Honda said, “It’s time for us to win the War on Poverty.”
Washington, D.C. – Rep. Mike Honda (D-Silicon Valley) released “2013 Year in Review,” his annual report for the residents of Santa Clara and Alameda Counties. The first iBook published by a member of Congress, the annual report highlights his legislative accomplishments and constituent services successes for the year in a multimedia format.
I am delighted to present you with my 2013 Year in Review and the first-ever iBook published by a Member of Congress. An iBook is like an electronic book yet allows for interactive features, such as embeded videos, interactive charts and audio files.
Because of the inability of the Republican House majority to pass a budget unless it denies life-saving healthcare coverage to millions of Americans, the federal government shut down at midnight tonight. Unfortunately, this means that many services that our citizens rely on – including IRS call centers, regulatory agencies, and certain functions of the Social Security Administration and Small Business Administration – will be closed until a funding agreement can be reached. I plan to work with my colleagues on both sides of the aisle on a resolution, and hope Congress can get back to the