In the last presidential election, 71 percent of Americans over 65 voted, according to US Census Bureau data — more than any other age group. Older adults are also much more likely to participate in primary elections than their younger counterparts.
For now, that’s good news for Biden. A Washington Post poll from late June to early July showed Biden earning the support of 47 percent of Democratic-leaning respondents over 65. Meanwhile, that same survey showed Sen. Bernie Sanders with just 3 percent backing him. Sen. Elizabeth Warren (D-MA) polled at 10 percent, and Sen. Kamala Harris (D-CA) at 13 percent.
via Vox.
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Given Social Security’s importance to all Americans, you can imagine my surprise that none of the moderators in the first two rounds of Democratic debates asked a single question about it. Our nation faces a retirement crisis, with savings rates plummeting, pensions vanishing, and expenses in old-age soaring. 63 million Americans rely on Social Security today for basic financial stability, yet conservatives propose to cut future benefits. The father of Social Security is one of the most revered Democratic presidents. And yet not a single mention of the program during the first two sets of primary debates by the party of Franklin Roosevelt?
Many in the news media have bought into the narrative that “no one in Washington wants to talk about Social Security” because it is a politically sensitive issue. Maybe that’s one reason why they don’t ask the question during debates. This narrative holds that neither party is willing to address Social Security’s long-term future. Nothing could be farther from the truth. Democrats in Congress, including Representative John Larson (D-Conn.) and Senator Bernie Sanders (I-Vt.), have introduced legislation that maintains the program’s financial health for as long as most of us on earth today are likely to be alive. They achieve this mainly by insisting that the wealthy pay their fair share of Social Security payroll taxes. Congressman Larson’s bill, which has 210 cosponsors in the House, also expands benefits – and both bills provide for a more accurate and generous cost of living adjustment formula.
Read more from this new blog post by clicking here.
We have a new 2020 Election timeline which keeps track of Presidential candidates comments on Social Security, Medicare, and Medicaid.
You can view it by clicking here.
The conservative argument that the retirement crisis is a myth has been based on the notion that Americans actually will have far more in retirement resources than they recognize — particularly that Social Security benefits will amount to a much larger percentage of workers’ lifetime income than has been assumed. Ergo, there’s no need to expand Social Security to give retirees more.
via Los Angeles Times.
Further Reading:
The next U.S. president and Congress will face a serious test: What to do, if anything, about the nation’s retirement crisis?
Americans aren’t saving nearly enough in their 401(k)s, while wide swaths of the workforce aren’t saving at all, because they don’t have access to a retirement plan. Social Security, meanwhile, faces a financial shortfall as the baby boomers enter retirement.
via Bloomberg.
Related Reading:
We agree, Congress should BOOST Social Security for all working Americans.
Do you agree? If you answered “yes”, then please sign our petition here.
Older Americans are the country’s largest voting bloc, but during the first four Democratic presidential debates, the moderators didn’t ask even one question about Social Security. This makes no sense.
How long do seniors have to wait until they hear the Democratic presidential candidates’ positions on Social Security during a primary debate? Older Americans are the country’s largest voting bloc, but during the first four Democratic presidential debates, the moderators didn’t ask even one question about Social Security. This makes no sense.
The father of Social Security is one of the most revered Democratic presidents. And yet not a single mention of the program during debates by the party of Franklin Roosevelt? The 63 million citizens who currently rely on their earned benefits to remain financially healthy want to hear the candidates answer at least one debate question – and provide some real answers. The next Democratic debate on October 15th provides yet another opportunity to raise this crucial topic.
Read more from our newest op-ed by clicking here.
Rather than acknowledge our national retirement crisis and propose policy prescriptions to improve the ability of average Americans’ to save for retirement and boost benefits for Social Security and Medicare, policy proposals of most of the Republican Presidential candidates do just the opposite – cut benefits and shift more costs to middle-class families.
Max Richtman via Entitled to Know.
Workers in Louisville face a major — and very real — retirement crisis. Wealth inequality and workplace changes have practically sawed off two of the legs of the traditional retirement stool: pensions and private savings.
More than half of today’s retirees rely on the third leg of the stool, Social Security, for most of their income. (The average Social Security benefit in Kentucky is roughly $16,000 per year, only about $3,500 above the federal poverty line for individuals.) Even with Social Security, some 13% of Kentucky seniors live in poverty. The good news is that workers can increase the size of their future Social Security checks by delaying retirement.
Read more from our new op-ed by clicking here.
It’s no secret that American workers face a major – and very real – retirement crisis. Wealth inequality and workplace changes have all but kicked out two of the legs of the traditional retirement stool: pensions and private savings – both of which are at historic lows.
More and more retirees have come to rely on the third leg of the stool, Social Security, for most of their income. (The average monthly Social Security benefit in New York State is about $1,450 or some $17,000 per year, only slightly above the federal poverty line.) Even with Social Security, 10% of New York’s seniors live in poverty. The good news is that workers can increase the size of their future Social Security checks by delaying retirement.
Read more from this op-ed by clicking here.
While this has a clear meaning to policy wonks, it is likely that most viewers won’t immediately know that “entitlements” means the Social Security and Medicare their parents receive. It’s a lot easier for politicians to talk about cutting wasteful “entitlements” than taking away seniors’ Social Security and Medicare.
Dean Baker via Truth Out.
Related Reading:
Will America’s Seniors Vote Against Their Own Self-Interests…Again?
