Political Quotes

“I rise today to talk about some disappointing news. For only the third time in 40 years, Social Security beneficiaries will not receive a cost-of-living adjustment, or COLA, this year. This news will impact the nearly 60 million American retirees, dependent survivors, and disabled workers who rely on Social Security to make ends meet. Social Security is the most effective anti-poverty program in U.S. history. Without Social Security, about 44.1 percent of America's seniors would be living in poverty. In Hawaii, one in six residents depends on Social Security to help pay their bills and keep a roof over their heads. It is the only source of income for 25 percent of our seniors in Hawaii. We live in a world where wages just aren't rising fast enough, and real pensions are disappearing. More and more workers are working longer and harder with less to show for it when they retire. According to a 2014 Federal Reserve study, nearly 1 in 37 respondents reported having no retirement savings or pensions whatsoever, pointing out once again that Social Security benefits are essential to millions of working Americans and retirees. For many who are already struggling to make ends meet, Social Security is all they can rely on. Absent a COLA, too many beneficiaries will see no increase in their primary source of income, making it harder to afford basic necessities, especially medical care.…”