Washington’s months-long debate over raising the debt ceiling started with some prominent Republicans calling to slash Social Security.
After some public outcry, debt ceiling negotiators agreed not to touch Social Security — this time. But now that the deal’s been signed, House Speaker Kevin McCarthy (R-Calif.) says he’s launching a commission to push “uncomfortable” cuts to this central pillar of our retirement system.
This is scary news for the estimated 40 percent of Americans age 65 and older who would fall below the poverty line if they lose these benefits.
Corporate pay practices have contributed to the retirement insecurity that afflicts so many American families. For decades now, the heads of big businesses have been slashing employee retirement benefits while feathering their own nests — often with taxpayer support.
New fact sheets by the Poor People’s Campaign and the Institute for Policy Studies reveal disturbing data on systemic racism, poverty and inequality, ecological devastation, and militarism in every U.S. state.