Rep. Chu Statement in on 80th Anniversary of Social Security
Pasadena, C.A. – Today, 80 years ago, President Franklin D. Roosevelt signed the Social Security Act. In commemoration of this anniversary, Rep. Chu released the following statement:
“Eighty years ago, Social Security changed America. Suddenly, millions of Americans were able to retire in peace, living out their golden years without the fear of poverty or hunger. For workers who became ill or disabled, social security would serve as a lifeline of support. It became a revolutionary promise to a generation - and every generation that followed – that if you work your whole life and pay into the system, Social Security will be there for you when you need it.
“Since then, it has become an essential part of the American Dream. Today, 2 in 3 retirees depend on Social Security for a majority of their income. The average working American has only $2,500 in retirement savings, and those nearing retirement have just $14,500. Our country is facing a retirement crisis, which means that future retirees will depend on social security even more.
“Every week, I hear from constituents who depend on Social Security, which, in my district, amounts to about $1,188 a month for more than 108,000 beneficiaries. Without social security they would go hungry, go homeless, or worse. That is why, I am committed to do everything possible in Congress to not only prevent cuts to such a vital program, but to expand social security and make it even stronger for the next 80 years to come.