Social Security: The GOP vs. the American People
Nancy Altman, President of Social Security Works
In case anyone had any doubts, the most recent Republican presidential debate made crystal clear how out of touch the Republican establishment is with the American people.
Social Security is extremely popular with the overwhelming majority of Americans – whatever their Party affiliation, age, race, ethnicity, gender, or economic status. Social Security represents the best of American values. It is responsibly funded, does not add a penny to the deficit, and only pays benefits if it has sufficient income to cover not only the cost of all benefits, but also the cost to administer those benefits.
The American people recognize that expanding Social Security is a solution to, among other challenges, a looming retirement crisis. Traditional pensions are disappearing, the 401(k) retirement savings experiment is a failure, and middle class wealth in the form of home equity vanished overnight in the Great Recession.
Social Security is the most efficient, universal, secure and fair source of retirement income. It provides basic economic security when wages are lost as the result of death, disability, or old age. Its one shortcoming is that its benefits are too low. That is why there is a growing movement to expand those benefits.