Congressional Video - July 12, 2011
Full transcript inside. Runs 1 minute. Outstanding clip from the House floor. After the jump, there are three 1-minute clips - all from Kucinich this week on Social Security.
Transcript:
Social Security didn't create the deficit, but America's seniors are being presented with a fake Social Security crisis to try to trick them into accepting reduced benefits. Social Security will be able to pay 100% of its benefits through 2037 without any changes whatsoever.
So, why the panic today? If seniors accept cuts to Social Security benefits today, a surplus cash flow will build in the Social Security trust fund. According to the Congressional Research Service, "Social Security's cash surpluses are borrowed by the U.S. Treasury and can be used for tax cuts, spending or repaying debt."
Social Security benefit cuts are increasing taxes paid to Social Security or extending retirement age will give more money for tax cuts spending or repaying the debt. Except for one thing: Social Security money belongs to those who have paid into the fund, it's not the government's money to use it; it shouldn't be the government's money to play with.
Senior citizens should not have to accept a reduced standard of living to finance tax cuts for the rich. We must take a stand for senior citizens and protect Social Security and protect future generations from this raid on Social Security's funds.
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July 13, 2011
Transcript:
Three months ago 276 experts on Social Security, the federal budget or the economy wrote to President Obama "to correct a commonly held misconception -- that Social Security somehow contributes to the federal government's deficit."
Despite the fact that Social Security has a $2.6 trillion dollar surplus and can pay 100% of its benefits through 2037 without any cuts or tax increases, President Obama declared yesterday that Social Security checks may not go out after August 2, presumably unless there is a deal on the federal deficit - - which has nothing to do with Social Security.
According to today's Washington Post, fifteen years ago Congress passed laws which stated Social Security did not count against the debt limit and gave Treasury clear authority to use Social Security trust funds to pay benefits and administration expenses in the event a debt ceiling is reached.
A fake Social Security crisis will do nothing to solve a real debt crisis, will undermine the public's faith in government and will create unnecessary anxiety among our elderly.
Stop playing political games with Social Security.
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July 15, 2011