skip to main contentskip to popular page linksskip to main navigation links
photo of Mike Capuano Michael E. Capuano representing the 7th district of Massachusetts in the U.S. House of Representatives Go to the House of Representatives homepage
Like Mike on Facebook Visit Mike's video channel on YouTube Like Mike on Facebook


 My Schedule My Voting Record District Maps Register To Vote FAQ Site Map e-Updates

12,456 subscribers
Printer-friendly web page: Mike on Social Security


Mike on Social Security

Social Security is our Nation's largest retirement and disability program, providing cash benefits to more than 64 million retired and disabled workers and their dependents. The Social Security system is the cornerstone of our nation's safety net for retirees. One out of every five Americans receives Social Security benefits. A .03% COLA (Cost of Living Adjustment) was put in place in January 2017 for more than 65 million retirees. I recognize that many beneficiaries feel this is insufficient, but it is a step in the right direction.

I have consistently opposed plans to privatize or partially privatize this critical program, a step I believe would undermine retirement security by cutting guaranteed benefits over 40% for future retirees. Risky privatization accounts will not make up that difference. These accounts would take nearly $5 trillion from Social Security over 20 years, and jeopardize benefits earned by current retirees, disabled workers and children who have lost a parent. Today, the average monthly benefit is $1360. Without this money, nearly 50 percent of American seniors would be living in poverty. Privatizing Social Security through individual savings accounts will put the retirement savings of too many seniors at the mercy of the stock market, in addition to saddling future generations of Americans with even greater debt. I think most would agree that our nation's recent economic troubles have highlighted the pitfalls of privatization.

Social Security continues to face long-term challenges and they should be addressed. I am 100 percent opposed, however, to the privatization of the Social Security system. Preserving Social Security for future generations is a difficult but crucial challenge, and we must do everything we can to keep our promise to America's working men and women. I will continue to work for proposals that strengthen and preserve this program.

Open printer-friendly web page

12,456 subscribers




Home | About | Biography | Contact | Issues | Links | News | Schedules | Services

E-Updates | Site Map | Privacy Policy | Accessibility

110 First Street
Cambridge, MA 02141
P: (617) 621-6208
F: (617) 621-8628

  Constituent Services Click to close menu
  Casework and Assistance
  Immigration Casework
  Grants and Federal Domestic Assistance
  Presidential Greetings
  Washington, D.C. Attractions
  U.S. Service Academy Nominations
  Media Center Click to close menu
  Press Items
  Recent Votes
  Video and Audio
  Legislative Work Click to close menu
  Recent Votes
  Voting Record
  Sponsored Legislation
  Earmark Requests
  Committees and Caucuses
  Ethics Task Force
  Schedules Click to close menu
  My Schedule
  House Floor Summary
  Weekly House Schedule
  Annual House Calendar
  Weekly Senate Schedule
  Our District Click to close menu
  The 7th District Over the Years
  Nobel Prize Winners
  Interesting facts about Massachusetts
  Massachusetts Links
  Links Click to close menu
  Massachusetts Links
    State Government
    About the 7th District
    Arts, Culture and Attractions
    Chambers of Commerce
    Colleges and Universities
    Exploring Massachusetts
    Hospitals and Health Organizations

  Federal Government Links - Official Government Portal
    Legislative Branch
    Executive Branch
    Judicial Branch
    Federal Agencies
    Kids' Pages
    Register to Vote
    Washington, D.C. Attractions
    Business Opportunities with the Government
  Contact Click to close menu
  District Office
  Washington, D.C. Office
  Office Hours Program
  Community Meetings
  E-mail Me