Let’s be clear, as we walk into the precinct today. If we weigh inflation, economic resilience, the social security safety net, not to mention democracy and rule of law we should vote to keep the Senate, and our representatives, Democratic. After the pandemic exploded in the spring of 2020, the supply disruption boosted prices — worldwide. It is not a U.S., or a Biden presidential phenomenon. The fiscal and banking response to avoid a jobs depression that might persist also set in motion price hikes — worldwide. See the annual inflation rates for European countries, shown above for 19 countries that use the Euro as their sole currency (Eurozone), or for all the 27 nations that comprise the EU. While we in the US cope with 8% year over year inflation, spread unevenly across food, fuel, rent, etc, other industrial countries have higher rates than that owing to the same supply issues and remedies — 10.9% averaged across Europe, 9% in Spain and Italy, 10.9% in Germany, 10% in Sweden, 12% in Belgium.
Meanwhile we’ve reversed the initial spike in unemployment and brought the jobless rate to less than 4%, from 14% in early 2020. Looking ahead, it’s vital to have a Congress that will protect Social Security (SOSS, save our social security.)
S-O-S-S
(save our Social Security)
Meanwhile the nearest term risk, to the economic safety net that millions will be depending on — Social Security — is being challenged by senior Republicans, including Sen. Rick Scott, Leader Kevin McCarthy, Sen. Mike Lee, Sen. Mitch McConnell.
In the name of reform, the GOP is threatening to use the upcoming debt-limit extension as mandatory “leverage” to demand spending cuts, in cynical hostage taking. Kevin McCarthy says it’s not “pre-determined” that Social Security and Medicare will be exempted from such leverage / extortion (otherwise known as “shooting the hostage”).
This, despite the fact that Social Security (with Medicare) has been the single most successful anti-poverty program, ever.
A solution to add to the solvency of the trust fund for Social Security has been put forward by Democrats in the House and Senate, the “Social Security 2100” bill — without cutting benefits for future retirees.
The GOP has put forward proposals to raise the retirement age gradually to age 70, and postpone Medicare to age 67. Sen. Rick Scott has proposed including Medicare and Social Security in a 5-year “sunset” scheme, which would require these programs to be authorized and enacted anew by a divided Congress, every 5 years.
Cuts to Medicare would fall even harder on minority/ black future retirees. The life expectancy is several years shorter for Black/African Americans than for the rest of the population.
Even life expectancy at age 65 (omitting deaths of childhood and early adulthood) shows that black males have a life expectancy 3 years shorter than white males or the overall male population, and black females shorter.
You can say that “democracy” is on the ballot. More than that, economic vitality is on the ballot. We’re paying into SS + Medicare with every paycheck (we’re paying 7.65% per paycheck).
Don’t let the GOP shoot the hostage.