[Congressional Record Volume 169, Number 17 (Thursday, January 26, 2023)]
[House]
[Page H345]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                  SOCIAL SECURITY AND THE DEBT CEILING

  The SPEAKER pro tempore. The Chair recognizes the gentleman from 
Connecticut (Mr. Larson) for 5 minutes.
  Mr. LARSON of Connecticut. Madam Speaker, Ronald Reagan was prescient 
in his description of Congress, especially as Congress addresses 
issues, most specifically, the debt ceiling.
  Here is what Ronald Reagan had to say about Congress:

       Congress consistently brings government to the edge of 
     default before facing its responsibility. This brinkmanship 
     threatens the holders of government bonds and those who rely 
     on Social Security and veterans benefits.

  Let me repeat that: those who rely on Social Security, you could add 
Medicare and veterans benefits.
  That is what is at stake here.
  Reagan went on to say:

       Interest rates would skyrocket, instability would occur in 
     the financial markets, and the Federal deficit would soar.

  Why, then, would our colleagues on the other side of the aisle hold 
the American economy hostage?
  In their own words: so they can cut Social Security and Medicare.
  They call these programs entitlements.
  For all of those listening to this, make sure you call your Member of 
Congress, and let them know that Social Security is not an entitlement. 
It is an earned benefit. It is something that people pay for weekly, 
biweekly, or monthly.
  How do they know?
  How do we trust and verify this?
  All you have to do, Madam Speaker, is go to your pay stub. It says: 
FICA. That stands for Federal Insurance Contribution. That is Federal 
Insurance Contribution.
  Whose?
  Yours--the more than 66 million Americans who contribute to this 
program. It is an earned benefit. It is not an entitlement.
  They clearly are entitled to their Social Security.
  But here we have the ruse of the year. We are going to hold the 
American economy hostage so that we can make cuts to a program that 
Congress hasn't enhanced in more than 52 years on our watch--ours being 
every Member of Congress. We cannot let this persist.
  Fortunately, because of hard work in the past, seniors are receiving 
a COLA this year because of COVID. But it has not been reformed, it is 
not permanent, and there hasn't been a benefit enhancement in 52 years.
  In 1971, a loaf of bread cost 72 cents. I don't have to go through 
the litany of how costs have risen.
  With 10,000 baby boomers a day becoming eligible for Social Security, 
this is not the time to cut the program. This is a time to enhance the 
program so that all of our seniors--especially those who were hit 
hardest by the epidemic.
  How do we know this?
  Of the more than 1 million people who passed away from the pandemic, 
over 750,000 are over the age of 65.
  And who is impacted most by inflation?
  Those people who are on a fixed income, and by definition, those on 
Social Security are on a fixed income and need our help the most during 
this time of inflation. It impacts every single district in this 
country.
  On average, there are 147,000 Social Security recipients in every 
congressional district, and to deny them the enhancements that they 
need during this inflationary time and during a time period when 
Congress has not enhanced the program in more than 52 years is long 
overdue.

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