80 years and going strong

Friends,

Social Security turns 80 today - and it’s still going strong.

In an era of vanishing pensions and volatile markets, Social Security is a solid and dependable program. It’s a commitment made 80 years ago that still has meaning today - after a lifetime of working, Americans can expect to live with some dignity in retirement.

When I talk to Oregonians about Social Security, I hear from seniors who say they don’t know what they would do without it. And sometimes I hear the misconception that Social Security is going broke. Many young people worry that it won’t be there for them. Workers approaching retirement are concerned that their benefits might be cut.

Here’s the truth: Social Security has run a surplus for decades and currently has more than $2.7 trillion in reserves. It has never missed a payment, and it doesn’t add a penny to the national deficit.

Two-thirds of retired Americans rely on Social Security for at least half of their retirement income. Without Social Security, a majority of Americans would live their final years in poverty, and that’s simply not acceptable. We will need to make small adjustments from time to time, but we must never break the commitment to Social Security.

And here’s my commitment: I will do everything I can to strengthen Social Security so it’s around for the next 80 years and beyond.

With appreciation,