On the recordMay 15, 2024
Not only is it true, but I think what the general public needs to understand, and as you point out, Mr. Cartwright, the saying goes like this: Well, people are living longer, so, therefore, because they are living longer, what we ought to do is raise the age. What the study committee doesn't tell you is that for every year you raise the age, that is a 7 percent cut in benefits. Oh, so if you raise the age to 70, that is a 21 percent cut in your benefits going forward. How is it, from just mere logic, that if you are living longer you need to live on 21 percent less? The American people understand this, and that is why they are so upset, but that is why, Mr. Cartwright, we need a vote. {time} 1945
