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DeMint Press Release Following the Failed Vote
Washington, D.C. – Today, fifty-three U.S. Senators voted against an amendment to the Fiscal Year 2007 Budget Resolution, introduced by U.S. Senators Jim DeMint (R-S.C.) and Mike Crapo (R-Idaho), which would have allowed the Senate to create a reserve fund to protect the Social Security surplus.
“Sadly, fifty-three senators turned their backs on America’s seniors,” Senator DeMint said. “There is simply no way to save Social Security if we don’t have the courage stop using the surplus as a secret slush fund. I’m thankful there were forty-six senators who stood with America’s seniors to end the raid. We will not be deterred by cynics who offer no solutions.”
“Those who voted against this amendment voted to raid Social Security,” said Senator DeMint. “Now, every senator will be on record whether they oppose or support the raid. This said absolutely nothing about personal accounts, it was about whether you believe Social Security should be saved or allowed to wither on the vine.”
“I’m saddened this amendment was characterized inaccurately as a privatization move,” Senator Crapo. “The American public and future generations of taxpayers will suffer if we cannot address the issues regarding Social Security and fiscal discipline. It is unfortunate that we continue to have partisan rhetoric cloud the issue, and I pledge to work with other senators to address the issue.”
The current Social Security system allows Congress to spend the Social Security surplus on other government programs. Including interest, Congress has raided $1.7 trillion from Social Security since 1985. The surplus now only consists of IOU’s stacked in a vault in West Virginia that can only be paid back by raising taxes or cutting spending.
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Did You Know?
Disability Insurance Benefits is a coverage provided by the government
If your Disability Insurance Benefits claim is approved, the monthly payment you will receive is set by your earnings (and Social Security tax payments) during your working career. There is no minimum rate. A person must prove that he or she became disabled while disability insurance coverage was in force or you are not entitled to Disability Insurance Benefits
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Definition:
Under this definition, an insured will be considered disabled only if he or she is unable to perform the duties of his or her occupation.
Deeming
Definition:
The process by which the income and resources of an ineligible individual are considered to be available to a recipient when determining eligibility or payment amount.
Conversion Privilege
Definition:
If included, this option allows employees who are terminating employment to continue some or all of their LTD coverage at their own expense without submitting evidence of insurability.
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