"Social Security is not a retirement savings plan; it is a social insurance program. It's a contract that says, as a society, we will look out for you and your family when you can no longer work"

This quote by Jeff Bingaman stresses the value of Social Security as a social insurance program. It is not a retirement savings plan, however rather a contract in between society and people. This contract states that when an individual can no longer work due to age or special needs, society will keep an eye out for them and their household. This is an important safeguard for individuals who might not have the resources to attend to themselves and their households. Social Security is an important part of our society and provides a sense of security and stability for people and households. It is a tip that we are all in this together and that we need to watch out for each other.