Fifty million people would get a check for $250 from the government, because, I believe, about $13 billion for 1 year, it wouldn't have been a long-term deficit issue; it would have been a one-time cost for people who didn't get a cost-of-living adjustment this year. So we know the average Social Security beneficiary gets about $14,000 a year. We know an awful lot of Social Security beneficiaries live mostly on their Social Security. Most people have a little bit more than that, but an awful lot have only a little bit more or nothing more so that is what they live on. They have no cost-of-living adjustment this year because of this sort of complicated formula. But what was pretty amazing to me is how at the same time, every Republican signed a letter, 42 Republican Senators signed a letter saying they will do nothing else until they get their tax cuts for the rich.
Editor's note · Context
The speaker addresses the lack of cost-of-living adjustments for Social Security beneficiaries and Republican tax cut priorities.
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