The Truth about Social Security’s Math Really Does Matter – Even in Washington and more...

The Truth about Social Security’s Math Really Does Matter – Even in Washington

We don’t usually share this is the kind of “inside baseball” Washington story here but today’s a little different... For months, conservative think-tankers who undermine the value of Social Security, deny the existence of a national retirement crisis and the need to boost benefits have been banging their drum for benefit cuts especially hard.  Why?  Because a scarcely reported CBO report on Social Security replacement rates (now you see why we don’t usually share these kind of stories) claimed Americans received more in benefits than previously believed or reported by Social Security actuaries. For those who make a living advocating for benefits cuts, like the American Enterprise Institute’s Andrew Biggs, the CBO report was a golden goose.  His columns in the Washington Post, Wall Street Journal, Forbes and more tweets than we can count proclaimed the retirement crisis is phony and not only are Americans receiving enough Social Security benefits, some rece ...

     

Voters Say “No Thanks” to Christie’s Plans to Gut Social Security & Medicare

National Committee President/CEO, Max Richtman's reacts to Chris Christie's suspension of his Presidential campaign:  “New Jersey Governor Chris Christie’s political strategy to portray himself as a tough-talking-truth-teller by promising to destroy America’s retirement safety net if elected President came to a predictable conclusion today.  I say it’s predictable because Americans have worked hard to earn their Social Security and Medicare and this campaign shows they simply don’t support Christie’s slash and burn strategy.  Voters, of all political persuasions, agree Social Security and Medicare must be strengthened not cut.  That’s a powerful lesson for the remaining candidates after today’s Christie campaign suspension announcement. National Committee members and supporters will continue our engagement with Presidential candidates in town halls and forums nationwide with one clear message -- our nation must honor its commitment ...

     

President Proposes Allowing Medicare to Negotiate for Lower Rx Drug Prices

“It’s long past time for Congress to acknowledge the hard truth that the sky-rocketing cost of prescription drugs is hurting average Americans and our federal budget. Medicare spends billions providing Part D drug coverage each year while beneficiaries including seniors, the disabled and their families also face rising out-of-pocket costs and higher premiums. All the while, drug makers continue to reap the profits of their price gouging. In his budget, President Obama has again proposed lifting the ban preventing Medicare from negotiating prices with the drug companies. Big Pharma has lobbied hard to keep the ban in place but seniors expect, this time, Congress will do the right thing and finally allow Medicare to negotiate for fair prices.”...Max Richtman, NCPSSM President/CEO Among the other budget provisions beneficial to seniors include: closing the Part D donut hole two years earlier additional funding for in-home services reforms for overpayments going to private in ...

     

African Americans Rely on Social Security for More of Their Retirement Income

As we celebrate Black History Month, it’s the perfect time to highlight how important Social Security is to the African American community.  The National Committee’s policy experts have prepared a new analysis of Social Security and African Americans. Here are some key points: While Social Security is expected to be only one part of a person's retirement income, many minorities rely on it for more of their income. Because African Americans tend to have lower earnings and less pension coverage than White Americans, Social Security is extremely important for African American retirees.  Based on the most recently available data: Almost three-fourths (72 percent) of African American beneficiaries rely on Social Security for at least half their income, compared to less than two-thirds (65 percent) of all beneficiaries. Almost 50 percent of African American beneficiaries rely on Social Security for 90 percent or more of their income. Approximately 37 percent of African Am ...

     

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The Truth about Social Security’s Math Really Does Matter – Even in Washington


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