Senator Elizabeth Warren (D-MA) solved the fake Social Security crisis with facts on Bloomberg TV’s Market Makers.
“Social Security is not driving our deficit,” she said on the show’s Thursday broadcast. “Social Security is a system that pays for itself. If we did absolutely nothing to Social Security, we would make payments for more than 20 years at exactly this level. And then they would drop by about 25 percent and pay forever into the future… We can make modest adjustments now in Social Security and make sure it will be there to pay on into the future. And if we make some more adjustments, we could see an increase in Social Security benefits for those who count on it.”
She went on to say that the “last thing we should be talking about is cutting Social Security” in the middle of a “retirement crisis,” noting that 2 out of 3 seniors — 14 million older Americans — the only thing keeping them out of poverty is their Social Security check.
The senator went further than saying Social Security and Medicare benefits should not be cut.
She believes that with some modest adjustments, Social Security could actually be expanded.
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