Matt Cartwright: “I have one final question for Ranking Member Larson. This idea of raising the retirement age, as the gentleman has…”

“I have one final question for Ranking Member Larson. This idea of raising the retirement age, as the gentleman has explained very well, constitutes a cut in benefits for every year Republicans raise it. Economists have worked out how much that is going to cost out of the Social Security system. The majority's plan is to raise the retirement age and cut Social Security benefits by $1.5 trillion, with a t. That is what happens when you raise the retirement age to 69 the way Republicans want to. Is that right?”