| REP. BECERRA ON THE 2012 SOCIAL SECURITY TRUSTEES REPORT |
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WASHINGTON, D.C.—Today the Trustees of the Social Security Trust Fund released the 2012 annual report on the current and long-term financial status of the program. Representative Xavier Becerra (CA-31), Vice Chair of the House Democratic Caucus and Ranking Member of the Social Security Subcommittee, released the following statement:
“Even in Washington $57.3 billion is real money and that’s exactly how much today’s trustees report finds will be added to the Social Security trust fund in 2012 alone. After 77 years and 13 recessions, Social Security continues to prove itself time and again as the most effective public program in our nation’s history, keeping its promise to our seniors, disabled workers, widows and children. Those who say otherwise and proclaim Social Security is bankrupt have a lot of explaining to do today to the millions of Americans who have contributed their tax dollars to Social Security’s accumulated surplus, which will exceed $2.7 trillion by the end of this year.”
Highlights from the 2012 Social Security trust fund report:
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