The shortcomings of the measure for Social Security are obvious. Moreover, the same inadequate index is used for other programs for seniors and people with disabilities, including military retirement benefits, veterans' compensation, civil service retirement benefits and the means-tested Supplemental Security Income program.
After 80 years, Social Security has stood the test of time. It is incredibly efficient, spending less than a penny of every dollar on administration -- the remaining 99 cents is paid in benefits. The question isn't can we afford to expand Social Security. As the wealthiest nation in the world, at the wealthiest moment in our history, there is no question that we can afford to expand Social Security. The real question is how can we afford not to do so.
I see no better way to celebrate Medicare reaching its fiftieth anniversary than to expand Medicare. If we follow the lead of those visionary architects fifty years ago, those who come after us will inherit a nation where affordable, first class health insurance -- Medicare for All -- is a birthright.
You've heard about boomerang kids -- adult children in their 20s and 30s who have returned to live in their parents' homes. Well, get ready for boomerang parents, formerly independent middle-aged people who -- 10, 15, 20 years hence -- will have no choice but to move into their adult children's homes because they cannot afford to maintain their own.
Republican opponents of Social Security have not wasted even a single day in their plan to dismantle Social Security brick by brick. What should be a dry, mundane exercise -- the adoption of new rules by the newly convening House of Representatives -- has turned into a stealth attack on America's working families.