Protecting Our Seniors
Because the political class has failed to act, Social Security and Medicare are headed toward bankruptcy. Absent legislation to preserve it, the so-called trust funds will be depleted within 15 years, and millions of seniors will face cuts in their monthly benefits.
Congress has long known of this looming crisis. More than 10,000 baby boomers retire daily. In the next 15 years, the number of Americans 65 or older will grow from 50 million to 80 million.
It is unconscionable that Congress would allow millions of seniors to be betrayed by their own government. Social Security has become the principal source of retirement income for millions. Half of the American workers do not have access to a 401 (k) or workplace retirement plan.
The Social Security and Medicare Program must be made solvent and secure for the next generation.
The Cost-of-Living Adjustment should be increased for current recipients to accurately reflect the rising prices of food, shelter, medicine, and prescription drugs.
Medicare should be allowed to negotiate drug prices with pharmaceuticals companies to bring drug prices down. The importation of safe drugs from Canada should be allowed. We need to fix Medicare Part D by placing a cap on out-of-pocket costs.
Seniors should be allowed to fully deduct the cost of prescription drugs and over-the-counter medications.