Elizabeth Warren on Social Security
Massachusetts Senator; head of CFPB
Retirement benefits are about our values, not about math
Mister President, the conversation about retirement and Social Security benefits is not just a conversation about math. At its core, this is a conversation about our values. It is a conversation about who we are as a country and who we are as a people.
Social Security is safe for at least the next twenty years and, if we act quickly, we can make modest changes that will keep the system solvent without cutting back on benefits. We need honesty and political will to move forward.
Source: Quotable Elizabeth Warren, by Frank Marshall, p.102&156
, Nov 18, 2014
No unnecessary cuts or risky privatization schemes
Most independent deficit analysts say entitlement projected spending will need to be reduced to solve the budget deficit. We should start there before we even consider breaking the promises we made to our seniors.
It would be a breach of trust--and just plain poor economic policy--to jeopardize these programs with unnecessary cuts or risky privatization schemes, especially when the wealthy and well-connected continue to enjoy special tax deals.
Source: Boston Globe questionnaire on 2012 Mass. Senate debate
, Jul 11, 2012
Modest changes will save Social Security, not privatization
Social Security is safe for at least the next 25 years and, if we act quickly, we can make modest changes that will keep the system solvent without cutting back on benefits. We need honesty and political will to move forward.
Social Security is a promise made to our seniors and it would be a breach of trust--and just plain poor economic policy--to jeopardize this program with unnecessary cuts or risky privatization schemes.
Source: 2012 Senate campaign website, elizabethwarren.com. "Issues"
, Apr 28, 2012
Opposes investing part of your payroll tax.
Warren opposes the CC Voters Guide question on Social Security
Christian Coalition publishes a number of special voter educational materials including the Christian Coalition Voter Guides, which provide voters with critical information about where candidates stand on important faith and family issues.
The Christian Coalition Voters Guide summarizes candidate stances on the following topic: "Allowing individuals to invest a portion of their payroll tax in private retirement accounts"
Source: Christian Coalition Voter Guide 12-CC-q6 on Oct 31, 2012
Sponsored keeping CPI for benefits instead of lower "Chained CPI".
Warren co-sponsored Resolution on CPI
CONCURRENT RESOLUTION expressing the sense of the Congress that the Chained Consumer Price Index (CPI) should not be used to adjust Social Security benefits.
- WHEREAS the Social Security program continues to provide modest benefits--averaging approximately $14,000 per year--to more than 53,000,000 individuals
- WHEREAS the Trust Fund can pay full benefits through 2032;
- WHEREAS the Social Security program is designed to ensure that benefits keep pace with inflation through cost-of-living adjustments based on the CPI which measures prices of goods and services;
- WHEREAS the Chained CPI adjusts for projected changes in consumer behavior resulting from price fluctuations known as the 'substitution effect', which occurs when consumers buy alternative goods and services whose prices are rising more slowly than average;
- Now, therefore, be it RESOLVED that the Chained CPI should not be used to calculate cost of living adjustments for
Social Security benefits.
Opponent's argument against bill:(Congressional Testimony by Jeffrey Kling, Congressional Budget Office Associate Director for Economic Analysis, April 18, 2013):
The chained CPI grows more slowly than the trad
Source: H.CON.RES.34 & S.Con.Res.15 13-SCR15 on Apr 18, 2013
Rated 100% by ARA, indicating a pro-Trust Fund stance.
Warren scores 100% Alliance for Retired Americans
Scoring system for 2014: Ranges from 0% (supports privatization and other market-based reforms) to 100% (supports keeping federal control over Trust Fund and Social Security system).
About ARA (from their website, www.RetiredAmericans.org):
The Alliance for Retired Americans is a nationwide organization, founded in May 2001, with now over 4.2 million members working together to make their voices heard in the laws, policies, politics, and institutions that shape our lives. The mission of the Alliance for Retired Americans is to ensure social and economic justice and full civil rights for all citizens so that they may enjoy lives of dignity, personal and family fulfillment and security.
Source: ARA lifetime rating on incumbents of 113th Congress 14_ARA on Jan 1, 2013
- Alliance members visit the polls in record numbers. We use the power of our membership and our Congressional Voting Record to educate and mobilize seniors to elect leaders committed to improving the lives of retirees and older Americans.
We are effectively warding off cuts to our most important social programs like Social Security and Medicare. Our Human Chain Against the Chained CPI events in the summer of 2013 took place in more than 50 cities and mobilized support for stopping this cut to earned Social Security benefits.
- We blocked the privatization of Social Security with our Social Security "Truth Truck" delivering 2.1 million petitions to Members of Congress and other tactics.
- The Alliance makes its voice heard on the issues that matter not just to current retirees, but to all Americans who hope to retire one day. We were a leading voice in recent debates considering changes to Medicare, like replacing guaranteed benefits with a voucher system, and remain so in 2014.
Page last updated: Mar 16, 2019