As you know, Social Security functions under the premise that today’s workers will help finance benefits for retirees and that these workers will then be supported by the next generation of workers paying into the same system.
As you know, Social Security functions under the premise that today’s workers will help finance benefits for retirees and that these workers will then be supported by the next generation of workers paying into the same system.
The President and I agree that Social Security needs to be preserved so that we can ensure that all Americans receive the retirement benefits they’ve been promised. But we disagree as to how best to fix the system.
It is estimated that raising the retirement age to 70 would cut the shortfall by about 36%. But this proposal has some drawbacks. Women and men who have worked jobs that require manual labor all of their lives may not physically be able to do work until they are 70 years old.
As a result of the current universal benefit, the poverty rate for seniors in America is about 10%. Without the universal benefit, it would be over 50%.
If it were the Clinton people, they’d be sitting around figuring out how to pull themselves out. Instead the president is continuing to go around the country and peddling Social Security, which the needle is not moving on.
You can be sure that I will always consider how changes to Social Security will impact people with disabilities when considering the various proposals offered for reform.
For these reasons, women tend to rely more heavily on Social Security in their retirement than do men.
I believe that as a nation we must have a bipartisan discussion about how to best preserve and protect Social Security for our seniors and for future generations of Americans.
All Americans have a sacred duty to guarantee Social Security benefits to our nation’s senior citizens.
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Social Security is a social insurance program – it is not designed to be the same thing as a 401(k).