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Congressman Geoff Davis : Serving Kentucky's Fourth District

Social Security

Social Security

Contrary to popular belief, Social Security taxes from a given worker are not saved by the government for that worker’s retirement.  When the program was created in the 1930s, the immediate concern was poverty among the elderly.  Therefore, the system was designed so that the Social Security taxes of the current workforce are used to pay current benefits.

In 1950, the ratio of workers paying into the system to provide for retirees was eight to one.  Today it is just over three to one; by 2030 it will fall to two to one.

Although the Social Security system is now running surpluses, current projections indicate that the trust fund will begin paying out more than it receives in 2017 and the surplus will be depleted  by 2037. 

Experts project that, on average, the system’s costs will be fourteen percent higher than its income over the next seventy-five years; by 2080 it will be fifty percent higher.  All in all, Social Security has an estimated unfunded obligation of $12 trillion under the current system.  The primary cause of this deficit is demographic: the post-World War II baby boomers will begin retiring in less than a decade, and life expectancy is rising. 

Social Security: A History


Social Security began in the 1930s as a way to combat destitute poverty among the elderly.  Over its seventy-four year history, it has been modified by Congress many times.  Social Security provides workers and their families’ safety net protections against the loss of income due to retirement, disability and death.

Social Security is meant to supplement-- not substitute for -- private savings and retirement planning.  To ensure a standard of living consistent with your expectations during your retirement years, all Americans should begin saving and investing for retirement as early as possible during their working years.  The more individuals save when they are working, the higher their standard of living will be when they retire.

The Social Security Administration provides an estimated benefits calculator that may assist you with retirement planning.  You can access it here. 

Social Security is a contributory system (workers and their employers pay Social Security payroll tax contributions on earnings up to a specified annual limit) and benefit payments are based on the worker's level of earnings and duration in Social Security-covered employment.  In December, 2008, the average annual Social Security payout was $13,836 per person.  This was not substantially higher than the poverty level for a single person over sixty-five, which was $10,326.  Unfortunately, twenty-eight percent of U.S. citizens sixty-five and older are living only on their Social Security income.

Preserving Social Security

As you may know, my mother and I benefited significantly from Social Security.  That small monthly check made a huge difference for us.  I have experienced first-hand the benefits of these programs.  As your Representative in Congress, I am committed to strengthening Social Security and Medicare for future generations.

Social Security Reform


Since Social Security reform has come under discussion in the past few years, many people have expressed concerns over losing the benefits they have been promised.  We must not reduce benefits or raise the retirement age for those approaching retirement.  Any successful Social Security reform plan will guarantee no changes in benefits for current retirees and no change in the retirement age for those at or near retirement. 

I am opposed to the privatization of Social Security. 

To date, no comprehensive Social Security reform bill has been introduced in the House.  Social Security is a topic of great importance not only for seniors, but for those who will have to live under the system in the years to come.  I will carefully consider any Social Security reform legislation, and I will only support a proposal that protects current beneficiaries and seriously addresses the long term challenges facing the Social Security system. 

Government Pension Offset and Windfall
Elimination Provision
(GPO WEP)


A number of employees in the Commonwealth of Kentucky, including government employees and teachers, are adversely affected by the GPO WEP policies.  I am a co-sponsor of H.R. 235, the Social Security Fairness Act of 2009, which will repeal the WEP-GPO law.  Its repeal will restore fundamental fairness to an important part of our social security laws.   

Problems with your Social Security benefits?


If you have a question about your benefits, or are having difficulty in dealing with the Social Security Administration, please contact my Fort Mitchell office at (859) 426-0080 for assistance.