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During the summit, Sanders has noted that there are some other ways to reduce the deficit but not through cutting the benefits of the disabled veterans, elderly, the children, the poor and the sick.
Hundreds of people attended the event that aims to oppose the proposal made by President Barack Obama to cut cost-of-living adjustments for Social Security and disabled veterans through the chained consumer price index (CPI).
For those who do not understand the meaning of chained CPI yet, it is revising how the consumer price index is being calculated. Unfortunately, the new formula would result in significant cuts in social security benefits and other federal programs. Also, the chained CPI would increase the taxes of working families. More than three-quarters of the new revenue increased would come from Americans earning less than $200,000.00 a year, while those earning between $30,000.00 and $40,000.00 would be hit experience the hardest strike.
Sanders further cleared the ambiguity to everyone by in his statement that was quoted below:
“Let’s be clear.. Social Security has not contributed a dime to the deficit. Social Security has a $2.7 trillion surplus. Social Security can pay 100 percent of promised benefits for the next 20 years. In other words, despite what you may be hearing from right-wing Republicans and the mainstream media, Social Security is not in crisis and Social Security is not going broke.”
Participants of the said summit included the Alliance for Retired Americans, the National Committee to Preserve Social Security and Medicare and the Strengthen Social Security Campaign. In addition, Sanders also welcomed support from other organizations like the AARP, the AFL-CIO, MoveOn.org, the Center for Community Change, the Campaign for America’s Future, the Paralyzed Veterans of America, Latinos for a Secure Retirement, the AMVETS and some other groups that helped organize the event.
Moreover, aside from the said organizations, several senators including Sen. Elizabeth Sen. Warren (D-Mass.), Sen. Al Franken (D-Minn.), Sen. Jack Reed (D-R.I.) and some representatives like Rep. Keith Ellison (D-Minn.), Rep. Peter DeFazio (D-Ore.), David Cicilline (D-R.I.) and Ted Deutch (D-Fla.) have joined the Sanders in his advocacy.
Meanwhile, being a social security advocate, a Los Angeles long term disability lawyer herein wishes for the best for those who joined the summit. Being a supporter of the same, he likewise feels alarmed after Obama’s proposal due to his concern with the citizens who much needed support. Therefore, he strongly believes that such event is necessary in order to draw more attention and support.
