The Democratic Platform released today clearly shows that the differences between how the Democratic and Republican parties will approach the future of Social Security couldn’t be starker. The GOP platform promises to consider all benefit cut options, refuses to lift the payroll tax cap and suggests sending Americans’ earned benefits to Wall Street through privatization. The Democratic Party platform, on the other hand, offers the strongest statement on strengthening Social Security seen in decades. By pledging to fight efforts to “cut, privatize or weaken” Social Security, supporting expansion of the program, lifting the payroll tax and exploring a new COLA formula for seniors, the Democrats have tackled head-on the critical challenges facing millions of average Americans.
“For too long, many in Washington have ignored the retirement crisis facing Americans nationwide. The Democratic Party’s platform acknowledges what average Americans and their families understand first-hand – Social Security is an economic lifeline to millions which should be improved. Boosting Social Security’s benefits to provide economic security while also extending the program’s solvency can be done at the same time. The Democrats get that.
The National Committee proudly worked closely with the Democratic Platform Committee and DNC Chair Rep. Debbie Wasserman Schultz to ensure efforts to improve the current cost of living allowance (COLA) formula are investigated. The current formula isn’t measuring seniors’ expenses properly and they’ve seen no increase for too many years, while their expenses (especially health costs) continue to grow. We need a COLA for the elderly and are happy to see Democrats address that reality in this 2016 platform.”…Max Richtman, NCPSSM President/CEO and Democratic Platform Committee Member
It’s also very telling that while the GOP buried their cuts and privatization plans for Social Security under the Platform’s Government Reform heading, the Democrats addressed Social Security, as they should, as part of their plan to restore economic security for average Americans. That’s been Social Security’s fundamental role for more than 80 years — providing an economic lifeline impacting the lives of virtually every American family.
A new National Committee to Preserve Social Security and Medicare Foundation report also released today, called Social Security Spotlight, illustrates very clearly the huge economic impact Social Security benefits have in every state and county throughout the nation. This research can be especially helpful during the 2016 election cycle for voters, journalists, policy makers and campaign staff as the future of Social Security is debated.