Pelosi Statement on 75th Anniversary of Social Security

Contact: Brendan Daly/Nadeam Elshami/Drew Hammill, 202-226-7616

Washington, D.C. – Speaker Nancy Pelosi released the following statement today to mark the 75th anniversary of the enactment of Social Security, which is tomorrow, August 14:

“For 75 years, Social Security has represented a bedrock promise to the American people: that after a lifetime of work, this country would ensure a measure of protection for our seniors, now and in generations to come. What started as a cornerstone of the New Deal has become an unbreakable bond in our nation’s social contract. It is a source of stability for millions of hard-working Americans – through survivor benefits and assistance to seniors and people with disabilities. And we will continue to uphold our pledge of Social Security long into the future.

“Just five years ago, President Bush and Congressional Republicans put forth a risky plan to privatize and cut Social Security – turning it over to the whims of Wall Street. At the time, Democrats and America’s seniors said ‘no.’ We would not turn a guaranteed benefit into a guaranteed gamble. As they saw their retirement investments and home values tumble in the Bush recession, seniors knew they could count on Social Security.

“Today, Republicans would chart a course right back to the same failed ideas of the past, putting Social Security at risk. Again, we’re saying ‘no.’ We are not going back to the ‘exact same agenda’ of the Bush years. Seventy-five years after Social Security’s enactment, we will keep moving forward, strengthening this vital initiative, and never wavering from our promise to America’s seniors.”