“We are not going to balance the budget on the backs of the elderly, the children, working families, the sick and the poor. We’re not going to do that.” – Senator Bernie Sanders
Today, John Burbank, EOI executive director, and Dean Baker, EOI board member, joined Social Security Works(opens in new tab), lawmakers and experts from around the country to share research and strategies for the protection and expansion of Social Security.
The event coincided with the release of the U.S. Department of Labor’s Social Security cost-of-living-adjustment (COLA) – a mere 1.5% which equates to about $19 a year(opens in new tab). Social Security accounts for more than 90 percent of income for 40 percent of U.S. seniors(opens in new tab) and it makes up more than half of the income of 70 percent of seniors(opens in new tab). In Washington state, Social Security provided benefits to 1,164,430 Washingtonians(opens in new tab) or 16.9 percent of residents. Social Security also lifted 395,000 Washingtonians out of poverty(opens in new tab) in 2011.
Our nation’s budget negotiators are considering disastrous proposals like the chained CPI (opens in new tab)or a 3 percent benefits cut(opens in new tab), despite the fact that Americans widely support expanding, not cutting, Social Security(opens in new tab) – even in hyper-red states like Texas and Kentucky. You can check out video of the full conference below. Remarks from Senator Bernie Sanders and other lawmakers start at 3:29:00.
Interested in getting involved in Washington’s fight for social security expansion? Learn more over at Social Security Works Washington(opens in new tab).