Diane Archer: The Government Accountability Office reported earlier this year that almost half of households headed by Americans aged 55 and older have no retirement savings.
Social Security is a program that includes provisions for retirement, disability insurance and survivor benefits. It can be self sustaining if structured to do so. The articles below discuss both its challenges and opportunities. In this video Senator Elizabeth Warren offers clear explanations for why Chained CPI is bad for the average American.
Nancy J. Altman: If he succeeds, the impact will be that over time, fewer people will meet the government’s definition of poverty—even though in reality, they will not be any less poor.
Nancy J. Altman: [pullquote]All of us benefit immensely from their work—particularly women, for whom Social Security’s modest benefits are especially important.[/pullquote]
Charles Jaco: Democrats are going along with the far right’s economic agenda, from calling bedrock programs for financial security like Social Security “entitlements” to codifying that the only way to pay for unfair tax cuts for the well-off is to cut services for Americans on the bottom rungs of the economic ladder.
Richard D. Wolff: Capitalism’s fundamental political problem is its class division between a small number of people who are employers and the majority who are employees.
Steve Hochstadt: I have found it hard to grasp what it means that I no longer have to accomplish work every day. Behavior that meant laziness and avoidance, like sleeping late or taking a nap, now mean something else, because there is much less pressure to accomplish something.
Steve Hochstadt: Retirement means getting up in the morning without a day full of activities that must be done today. I’ll have much more spontaneous control over what I do.
Michael Hertz: The SSA can make more money on its assets, while at the same time lending out money at lower rates than do the credit card companies.
Richard Eskow: If you’re going to cut a program that affects the lives of most Americans, the least you can do is get the facts right. Jeb didn’t.
View image | gettyimages.com n 2005 President George W. Bush and his fellow Republicans were hard at work trying to privatize Social Security. Their proposal would have replaced much of this guaranteed-benefit program with a plan that would have invested its funds in privately managed accounts instead. That would have been a massive payday for […]
Berry Craig: If I were a retiree on the fence wavering between Team Mitch and Team Switch, I’d give what McConnell said – or, rather didn’t say – some serious, if not prayerful, consideration before I voted a week from Tuesday.
RJ Eskow: One of the bitter ironies of the bipartisan austerity craze has been the fact that, while there has been an assault on government jobs, there has been an equal or greater push to transfer government revenues to the private sector using lucrative, cost-inflating “privatization” contracts.
RJ Eskow: Congress has cut 14 out of the last 16 SSA budget requests. There’s only one rational explanation for that: a hostility toward government itself, combined with the determination to place more public resources in corporate hands through “privatization.”