Life insurance for survivors was added in 1939—initially for widows and dependent children, but later extended to widowers as well. Disability Insurance benefits were added in 1956. The automatic cost-of-living adjustment, added in 1972, was created to ensure that benefits retained their purchasing power over many years.
We built, maintained and strengthened Social Security for a reason: to enable working men and women to protect themselves and their families, and because we, as a nation, value hard work, human dignity and caring for our parents, our children, our spouses, our neighbors and ourselves.
We urge you to think of the people you know: Family members who live in dignity in old age because they can count on a Social Security check, each and every month—checks that they or another family member have earned. Workers who are able to support themselves and their families after a severe and work-ending disability. Widowed spouses and children who can remain financially stable after a worker’s untimely death. With millions of beneficiaries spending their monthly benefits on food and other necessities, think about how Social Security is the lifeblood of many small businesses and local economies, always present and always supporting jobs that stay in America. Think, too, of how Social Security, like the nation’s highway system, is part of a rich legacy of those who came before.
As we celebrate the 84th anniversary of the enactment of Social Security—and the 63rd anniversary of the addition of its vital disability protections—it is time to recall the contributions that our Social Security system has made to American economic security. For eight decades, even as our nation has endured wars, political crises, and severe economic recessions, Social Security has never missed a payment. It has paid every dollar of earned benefits, on time and in full.
We are much wealthier as a nation than we were when Social Security was first built, and in the years when its protections were extended and improved. Now it is our turn to maintain and improve it for ourselves and for those who follow. To build our own legacy for our nation’s children and grandchildren so that when they become workers, they will have the economic security that Social Security provides.
The solution is clear – it is time to expand on what works. We must expand Social Security in order to improve economic security for all Americans in an era of stagnating wages and growing inequality.
So Happy Birthday, Social Security! We will continue to fight - and to vote - to ensure that you are able to celebrate many more. Click HERE to read the full report from Social Security Works