Tuesday, April 9, 2013

Obama's Offer To Cut Social Security Is Terrible Politics, Even Worse Policy

Social Security's austere payments —averaging $1,262 per month — replace only about 33 to 40 percent of annual earnings, when most experts argue retirees need about 70 percent of their income to maintain their living standards in retirement. Sixty percent of Americans receive at least two-thirds of their retirement income from Social Security, with the bottom 40 percent receiving 84 percent of theirs from Social Security.Yes, we need to reform Social Security, but the reform should increase, not cut the income support that millions rely on. In an important political blueprintfor sensible reform released by the New American Foundation, Michael Lind, Steven Hill, Robert Hiltonsmith and Joshua Freedman call for adding a supplement to Social Security that would guarantee all retirees about 60 percent of their average wage in retirement (similar to that of most other developed nations).
Seriously, everyone of our Senators and Representatives need to hear about this.  It is insanity.  Fortunately actual progressives are already organizing against this plan. All the information you need to get started is here.

I worked hard to get Obama elected in 2008.  While I know without doubt an Obama presidency is better than a McCain or Romney presidency, I can't get over what a crushing disappointment Obama has been. 

No comments: