Protecting Social Security, Medicare and Retirement Security
Everybody deserves the opportunity for a safe and secure retirement after a lifetime of hard work, but when the financial crisis hit in 2008, Americans experienced a $17 trillion loss in their retirement savings and net worth. As we work to grow our way back to prosperity and economic stability, we must also recommit ourselves to protecting core social safety net programs that retired Americans rely on. In Congress, Republicans are working to balance the budget on the backs of seniors, but I'm committed to fighting to preserve Social Security and Medicare for all Americans. Additionally, I've worked to implement policies that make it easier for Americans to securely save for their retirement.
Here's how I'm working to protect our social safety net and preserve retirement security:
Fighting against a plan to end Medicare as we know it: In Congress, the Republican Majority has put forth a budget that would end Medicare as we know it by turning it into a voucher program. We simply cannot allow this to happen, that's why I'm fighting to stop this misguided plan and preserve Medicare for future generations.
Protecting Social Security: Social Security is one of the most successful programs ever created and must be protected. While Social Security does face long-term challenges that need to be addressed, these can be fixed with more sensible changes to the system than the GOP's proposal to slash its funding by $810 billion over the next 10 years. Social Security is a sacred promise which must be kept to our seniors, that's why I will always oppose any efforts to gamble it on Wall Street through privatization or raise the retirement age.
- Working to help families securely save for retirement: In 2010, I was proud to help write the Wall Street Reform and Consumer Protection Act. This legislation implemented new standards to prevent Wall Street bankers from taking excessive risks with families retirement funds. It also created the new Consumer Financial Protection Bureau to protect consumers from predatory lending practices that make it harder for Americans to retire.