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When a candidate promises to “save these programs for future generations” by raising the retirement age, raising the Medicare eligibility age, privatizing Social Security, changing the COLA formula and means-testing Social Security while exempting near retirees what they’re actually saying is: “We know seniors vote so we’ll protect them now and slash future benefits for their children and grandchildren instead.
via Entitled to Know.
Scores of Democrats are calling on President Obama to champion an expansion of Social Security benefits for millions of seniors nationwide.
In a letter to be delivered to the White House Monday, the lawmakers say evolving trends surrounding employer retirement packages have put a financial squeeze on the nation’s retirees. They want the president to fill the gap by expanding Social Security.
via The Hill.
We agree. Congress needs to BOOST Social Security benefits for all working Americans. With individuals saving less and less for retirement, it’s important we expand benefits.
Related Reading:
America’s Jump From Economic Crisis to Retirement Crisis.
How Can I Get My Voice Heard? Sign Our Petition:
Petition to the Leadership of the Congress of the United States: Boost Social Security Benefits NOW.
The Social Security Administration’s budget has been under assault for years. Today the Senate Special Committee on Aging will examine the real-life impact these cuts are having on millions of seniors, people with disabilities, survivors and their families…
Social Security is indispensable for many of our nation’s retirees, who depend on the program for retirement security. But for the 65 million people on Social Security, there will be no annual raise in their benefits in 2016.
via NJ.com.
Related Reading:
No COLA Increase for Millions of Seniors.
No Social Security COLA Increase + Massive Medicare Hike for Millions.
Max Ritchman, President and CEO of the National Committee to Preserve Social Security and Medicare: “America’s seniors understand all too well that our nation faces a retirement crisis and improving Social Security benefits is vital to keeping millions from poverty. Rep. Linda Sanchez’s ‘Strengthening Social Security Act’ makes several important improvements for seniors by: phasing out the payroll tax cap so that the wealthy pay their fair share, creating a Cost of Living adjustment for the elderly and boosting benefits for all retirees including widows/widowers. NCPSSM strongly supports this legislation and applauds Congresswoman Sanchez for doing the right thing for America’s seniors and their families.”
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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?
Retirement, Social Security and long-term care:
Amid doubts about the soundness of the Social Security system, most Americans reject the idea of reducing benefits for future retirees. When asked to think about the long-term future of Social Security, only 25% say some reductions in benefits for future retirees will need to be made, while 74% say benefits should not be reduced in any way.
via Pew Research.
Related Reading:
We believe Social Security benefits should be BOOSTED for all working Americans.
Sign our petition asking Congress to BOOST Social Security benefits for all working Americans by clicking here.
Seniors have earned their benefits and many don’t have much else to live on. For more than one-third of retirement beneficiaries, Social Security constitutes at least 90 percent of income. Half of people aged 65 to 74 have no retirement savings. Without Social Security, almost half of the elderly would live in poverty.
Rather than cut benefits or hike the retirement age, this proposal would increase benefits across the board. It would provide a better cost-of-living adjustment that would reflect the true cost seniors incur, such as higher medical expenses.
President Franklin D. Roosevelt signed the Social Security Act on Aug. 14, 1935. Regular monthly payments to retirees began in 1940 and have continued ever since. But there have been several important adjustments to the program, including changes in the retirement age and increases in benefits to keep up with inflation. Here’s how the Social Security program has changed over 80 years…
via US News.