III 

111TH CONGRESS 

2D SESSION S. RES. 664 

Expressing the sense of the Senate in opposition to privatizing Social Security, 

raising the retirement age, or other similar cuts to benefits under title 

II of the Social Security Act. 

IN THE SENATE OF THE UNITED STATES 

SEPTEMBER 29, 2010 

Mr. SANDERS (for himself, Ms. STABENOW, Mr. BROWN of Ohio, Mr. HARKIN, Mr. WHITEHOUSE, Mr. INOUYE, Mr. FEINGOLD, Mrs. BOXER, Mr. 

AKAKA, Mrs. GILLIBRAND, Ms. MIKULSKI, and Mr. LAUTENBERG) submitted the following resolution; which was referred to the Committee on 

Finance 

RESOLUTION 

Expressing the sense of the Senate in opposition to 

privatizing Social Security, raising the retirement age, 

or other similar cuts to benefits under title II of the 

Social Security Act. 

Whereas Social Security is America’s most successful and reliable retirement program and continues to serve Americans well; 

Whereas Social Security is not in crisis or going bankrupt 

and has been running surpluses for the last quarter-century; 

Whereas Social Security, which currently has a 

$2,600,000,000,000 surplus, has not contributed a dime 


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•SRES 664 IS 

to the Federal budget deficit or national debt, and benefit 

cuts should not be proposed as a solution to reducing the 

Federal deficit; 

Whereas for 75 years, through good times and bad, Social 

Security has succeeded in protecting working persons and 

their families from precipitous drops in household income 

because of lost wages; 

Whereas Social Security has kept millions of Americans out 

of poverty, including senior citizens, widows, and disabled 

and dependent children whose parents have died, become 

disabled, or retired; 

Whereas before President Franklin Roosevelt signed the Social Security Act into law on August 14, 1935, approximately half of the senior citizens in America lived in poverty, while less than 10 percent of seniors presently live 

in poverty; 

Whereas more than 53,000,000 Americans receive Social Security benefits, including 36,500,000 retirees and their 

spouses, 8,200,000 disabled persons and their spouses, 

4,500,000 surviving spouses of deceased workers, and 

4,300,000 dependent children; 

Whereas according to the Congressional Budget Office, even 

if no changes are made to the Social Security program, 

full benefits will still be available to every recipient until 

2039, with enough funding remaining after that date to 

pay about 80 percent of promised benefits; 

Whereas seniors have put in a lifetime of hard work, helping 

to make our economy grow and make our Nation great, 

and they deserve a dignified and secure retirement; 

Whereas Social Security provides the majority of income for 

two-thirds of the elderly population in the United States, 


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with approximately one-third of elderly individuals receiving nearly all of their income from Social Security; 

Whereas proposals to privatize Social Security would jeopardize the retirement security of millions of Americans by 

relying on the ups-and-downs of the volatile stock market 

to provide benefits; 

Whereas Social Security benefits have already been cut by 13 

percent, as the Normal Retirement Age was raised in 

1983 from 65 years of age to 67 years of age by 2022; 

Whereas the physical demands of a job differ from industry 

to industry and, on average, the longevity of the lives of 

individuals differ significantly according to their level of 

income, education, and access to health care; 

Whereas 45 percent of workers who are 58 years of age or 

older are in jobs that are physically demanding or have 

difficult working conditions; 

Whereas raising the retirement age is especially burdensome 

to African-American, Latino, and older low-income workers; 

Whereas according to data from the Bureau of Labor Statistics, in April 2010, the job market for Americans 55 

years of age and older was one of the worst on record; 

Whereas Social Security benefits for retirees currently average a modest $14,000 a year, with the average for 

women receiving benefits being less than $12,000 per 

year; and 

Whereas according to the Social Security Administration, 

raising the retirement age for future retirees would reduce benefits by 6 percent to 7 percent for each year that 

the Normal Retirement Age is raised under Social Security: Now, therefore, be it 


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1 Resolved, That it is the sense of the Senate to reaf2 firm our commitment to the Social Security program, one 

3 of the greatest legislative accomplishments in the history 

4 of our Nation, without privatizing Social Security, raising 

5 the Normal Retirement Age, or other similar cuts to bene6 fits under title II of the Social Security Act. 

Æ 


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