Showing blog posts tagged with Social Security
Oh, the sweet irony.
Pete Peterson
is the conservative billionaire who is a
major financier
in the effort to dismantle, cut and privatize Social Security, Medicare and Medicaid. Recently he and his foundation held a contest asking folks to submit videos on why it is important to “fix” the national debt of which, he and his foundation falsely claim, Social Security is a major contributor.
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Holding a red-and-white paper chain, more than 30 Indiana activists formed a human chain outside the U.S. Federal Building in Fort Wayne, Ind., this morning and chanted:
“It's time for us to just say no/Chained CPI has got to go.
We're smart enough to see the lie/So don't you chain our CPI.”
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Be part of a “Human Chain Against the Chained CPI” on Tuesday—a national day of action to protest proposed cuts to Social Security, veterans' and other federal benefits. The so-called "Chained" CPI proposal would reduce cost-of-living adjustments and prevent benefits from keeping up with inflation. "Chained" CPI has been masquerading as a technical fix, but really it's just a benefit cut.
Find an event near you.
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Social Security advocates, senior activists, community and faith allies will form a “
Human Chain Against the Chained CPI
” in front of congressional offices and federal buildings in more than three dozen cities July 2. The
Alliance for Retired Americans’
national day of action is designed to showcase the broad base of support for protecting and enhancing retirement security, not dismantling Social Security inch by inch.
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In a Progressive Leaders Forum Town Hall meeting that will air Wednesday on SiriusXM 27's "The Agenda" radio show, Sen. Tom Harkin (D-Iowa) joined Nancy Altman of Social Security Works, Edward Coyle of the Alliance for Retired Americans and host Ari Rabin-Havt to discuss the future of
Social Security
, including Harkin's proposed legislation that would expand Social Security benefits. The Strengthening Social Security Act of 2013 (
S. 567
) would raise the monthly Social Security benefit by about $65 and would measure inflation not with the
chained CPI (a benefit cut)
, but using a more accurate measure of inflation for seniors (
the CPI-E
).
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A new report
from the National Institute on Retirement Security (
NIRS
) concludes that the United States faces a staggering retirement savings deficit. America's families are between $6.8 trillion and $14 trillion short of recommended retirement savings targets, it says, according to financial services firms. The Retirement Savings Crisis: Is It Worse Than We Think? finds the typical American family has only a few thousand dollars saved for retirement. Some 80% of working families have retirement savings totaling less than their annual income.
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This week, the
Center for American Progress
(CAP), a think-tank closely associated with President Obama’s Administration since it was the home of many key White House officials like Gene Sperling and Melody Barnes, changed course on backing a “grand bargain” with Republicans on cutting Social Security and Medicare benefits and raising taxes on high income earners to balance the budget in the long run. After taking a position favoring a debate on shrinking government back in 2009, CAP now sees four years later, that the job crisis remains while the federal deficit and the size of government has plummeted. But, let’s hope this change in heart has a similar effect on the Obama administration.
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A new report from the Institute for Policy Studies (
IPS
), called
Corporate Pirates of the Caribbean
, details how the CEOs who make up the group Fix the Debt, a group pushing for harsh austerity measures, are set to make even higher profits off of the policies they are pursuing in the name of "balancing the budget." Fix the Debt's members are pushing for cuts to Social Security, Medicare and earned social insurance benefits, while seeking to widen tax haven loopholes by creating a "territorial" tax system, which would earn them as much as $173 billion.
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Here's a stat that might surprise you: Nearly half of our nation's 41 million seniors are economically vulnerable, meaning their income is less than two times the supplemental poverty threshold.
Benefit cuts to Social Security and Medicare would severely impact these seniors' ability to afford health care, food and other basic living necessities, according to a
new Economic Policy Institute study
.
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