Social Security Works Speaks Out on Proposed Cuts
Resource type: News
Social Security Is Vital for Our Economic Security
Fifty-four million Americans depend on Social Security – 1 out of every 6 people. About 2 out of 3 seniors depend on Social Security for most of their income, and one-third of seniors rely on it for at least 90% of their income. Social Security’s benefits are modest, but vital for our economic security.
It is the single most important way the nation protects working Americans and their families against lost wages, when a working person is severely disabled or retires; and when a parent or spouse dies or is severely disabled. Social Security lifts 20 million people out of poverty. Without it, the poverty rate of our seniors would be 45%; instead it is 10%. Social Security does all of this with administrative costs of less than a penny on the dollar.
Politico: Social Security CPI Formula Change Opposed By Most, Poll Finds
Eric Kingson of Social Security Works was quoted by Politico on the dangers of changing the formula used to calculate Social Security and using instead a “chained” version of the consumer price index (CPI), which would limit future payments. Kingson calculated that an average 65-year-old would make $984 less in yearly Social Security payments 20 years from now. “The last thing Congress ought to be thinking about is putting in a permanent cut to the CPI,” he said.
C-SPAN: Alex Lawson on Social Security Benefits
Social Security Works Executive Director Alex Lawson talked on C-SPAN’s Washington Journal about the status of Social Security and the government announcement on 19 October 2011 that beginning in January 2012 fifty-five million Social Security recipients would get a 3.6 percent increase in benefits. Lawson also responded to telephone calls, tweets and emails from viewers.
Social Security Works is an Atlantic grantee through the Ageing programme in the United States where improving economic and health security through advocacy and policy is a key area of strategic focus.