[mp3-jplayer tracks=”CounterSpin Nancy Altman Full Show @http://www.fair.org/audio/counterspin/CounterSpin181026.mp3″]
Social Security cards
This week on CounterSpin: Senate Republican leader Mitch McConnell tipped a poorly hidden hand by saying that were it—you know—up to him, Congress, after the election, could be looking to “address” Social Security, Medicare and Medicaid, which he called the “real drivers of the debt.” Media were quick to report Democrats’ outcry, but that reporting didn’t include any questioning of media’s own role in laying the groundwork for claims that Social Security is a “controversial” or “troubled” program in need of “addressing.” We’ll go over myths about Social Security, once more with feeling, with Nancy Altman, president of Social Security Works, board chair at the Pension Rights Center, and author of, among other titles, The Battle for Social Security: From FDR’s Vision to Bush’s Gamble.
Transcript: ‘The American People Overwhelmingly Oppose Cuts to Social Security’
[mp3-jplayer tracks=”CounterSpin Nancy Altman Interview @http://www.fair.org/audio/counterspin/CounterSpin181026Altman.mp3″]
Plus Janine Jackson takes a quick look at coverage of Jamal Khashoggi, gun regulation and trans redefinition.
[mp3-jplayer tracks=”CounterSpin Banter @http://www.fair.org/audio/counterspin/CounterSpin181026Banter.mp3″]
Macon Telegraph
This is Viewpoints for Wednesday,
April 13, 2016
Older Americans Sacrifice
Every day, many older Americans sacrifice a meal to keep the lights on, pay the rent, or feed their family. In fact, more than 4.5 million adults age 50-59 are food insecure, which increases their chances of developing chronic health problems. The link between hunger and health makes a bad situation for the hungry even worse.
It is no surprise, then, that one of the things we fear most about living longer is that we may outlive our money. For many this is a very real fear.
Here is a shocking fact: Over half of all households nearing retirement have absolutely no retirement savings. We can blame them for not saving. But minimum wage and part-time jobs do not provide enough to save.
Social Security provides most of the retirement income for about half of all households headed up by people age 65 and older. Social Security provides, on average, $1,300 a month. For thousands of others, they receive $1,000 or less. They are living in abject poverty. Social Security should be raised, not only for today’s recipients, but for future generations.
Social Security is not keeping up with inflation. Republicans are steadfastly opposed to increasing Social Security. Instead, it is on the Republican agenda to raise the eligibility age to 70 to receive Social Security. Raising the eligibility age to 70 will also raise the eligibility age to qualify for Medicare.
Many millennials have endorsed the Republican proposal to raise the eligibility age to 70. What millennials do not understand, they are the ones to suffer the consequences. They will be forced to work longer.
Social Security is incredibly popular, and nothing Republicans say can change that. That’s why their favorite tactic is to lie to young people to undermine confidence in the system’s future. The truth is that our Social Security system will absolutely be there for future generations, as long as Republicans don’t succeed in cutting it.
For many people, especially the younger generation, retirement in the traditional sense has no meaning. Advise from family members and financial planners to save falls on deaf ears.
An important dimension that is often overlooked: a stronger social security system adds freedom throughout our working lives. When one knows they will not be impoverished when old, they can make choices in line with their values, rather than financial need. One can be more generous, do more volunteering, opt for more sociably useful work.
The goal of financial resilience is not just the absence of financial hardship or just squeaking by, it is having the means to accomplish your life goals and purpose. It is not just about surviving your later years, but thriving and being able to afford to live the life you want to live.
Ronald L. Cain
Exactly right RLC! And along with the false meme that “Oh, Social Security is going broke “ that is thrown out like a supposed truth (when in fact there’s something like a $2+ TRILLION surplus that the government has even internally loaned to other less-funded government programs), you’ve got the financial industry trying to coerce people into diverting their SS savings into ‘the market’ because ‘you’ll make more on your money’, which always sounds plausible during a overheated or bubble market, but comes crashing to the ground at the inevitable ‘correction’ and the low-middle income elderly people would become destitute ‘wards of the state ‘ without Social Security. The economist Dean Baker (who is regularly featured on this website) has written lengthy rebuttals to all these ‘SS is going broke’ tropes, and he’s far from the only one. As you referred to, the ONLY significant danger that SS faces is the political one from Republicans & various Libertarians, both of whom have opposed it since day-one and are ultimately not concerned with the financial welfare of the general public, just the money they can glean from them.
such a great report
Great interview with very clear points.
One questio: at the end Paul Krugman was criticized for not calling out Republican lies and instead saying “democrats say…”, maybe using some kind of he said, she said evasion.
I looked at his 8/23/18 column which included comments about social security and his Oct 25, 2018 column on health care issues in the election and it looked to me like he pretty clearly and squarely blamed Republicans for lying about these issues. Maybe I’m missing something? Seems like he’s kind of an ally on this question.