WASHINGTON, D.C.—U.S. Representative Rahm Emanuel released the following statement as delivered on the House floor this morning.

“Mr. Speaker, today we were given a stark reminder of what’s at stake in this debate about Social Security.

“Yesterday United Airlines unloaded their pension plans for their 100,000 plus workers on the Pension Benefit Guaranty Corporation, resulting in benefit cuts of up to 40%.

“Now go ask those United employees what they think of Social Security as part of their retirement. 

“Earlier this year US Airways unloaded their pension plans on the PBGC, cutting benefits by up to 50%.

“Go ask US Air employees what they think of Social Security.

“It may come as a shock to some, but the American people like the security that comes with Social Security.

“That’s what this debate is about. 

“For United Airlines and US Airways employees, the steel industry before them, and probably the auto industry next, Social Security is the lynchpin to their retirement security.

“They reject the idea of doing to Social Security what just happened to their private plans where they put their personal and employer based savings.

“Their benefits are now on the roulette table and being cut by 40%.

“Two-thirds of seniors and 40 percent of widows rely on Social Security as their only retirement.

“Mr. Speaker, this debate is about more than the solvency of Social Security, it’s about the retirement security of every American.”