14
Aug
2015
Sen. Chuck Grassley of Iowa today made the following comment on the 80th anniversary of Social Security. Grassley is the former chairman and a senior member of the Senate Finance Committee, which has legislative and oversight jurisdiction of Social Security.
"Generations of Americans have been protected against poverty, thanks in large part to this social safety net signed into law 80 years ago. Social Security is one of the three legs of the retirement savings stool, along with personal savings and pensions. Social Security's structure hasn't changed in 80 years, but the demographics have changed. The worker to retiree ratio has declined significantly. This presents a challenge, especially with baby boomer retirement. Congress has an obligation to find bipartisan solutions to strengthen and improve Social Security for generations to come. We also have an obligation to fight fraud. Every dollar that goes to waste, fraud and abuse robs the program and beneficiaries."
