Cassidy Recognizes National SAVE Social Security DAY, Calls for Action

WASHINGTON –Today, U.S. Senator Bill Cassidy, M.D. (R-LA) is highlighting the 90thanniversary of the Social Security Act and theresolutionhe introduced earlier this week designating August 14thas National Save Social Security Day. Cassidy has aplanto use a Sovereign Wealth Fund to save the program.
“If we do nothing, Social Security will be insolvent in 7-8 years. Action must happen now. I have a plan that protects benefits and secures retirement for decades to come,”said Dr. Cassidy.
Seehereto watch Cassidy’s new video on his plan to save Social Security.
Background
Cassidy released astatementfollowing the most recentSocial Security Trustees’ annual report, which predicts that Social Security will become insolvent by 2033.
Cassidy’splanto save Social Security infuses money into the program by creating a sovereign wealth fund—separate from the Social Security Trust Fund—which would consistently deliver benefits to those currently enrolled in Social Security and ensure the program remains solvent for future generations.
Cassidy released the inauguralBill on the Hill video,where he asked Capitol Hill visitors from across the country their thoughts on the looming benefit cuts to Social Security and presented his plan.
Cassidy hasdiscussedhis plan at a public forum with AARP and delivered akeynote speechat the National Institute on Retirement Security’s (NIRS) 15thAnnual Retirement Policy Conference on the future of Social Security. He alsooutlinedhis Social Security plan in a fireside chat with the Bipartisan Policy Committee, and authored op-eds in theWashington Postand theWall Street Journal.
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