CNBC - Social Security
Photo: CNBC

Simon Hobbs, news anchor for CNBC, received a backlash when attacking the “supposed threat” of senior citizens collecting Social Security benefits.  His argument is that their laziness and hording of their claims will leave the U.S. bankrupt.  Thankfully, Damon Silver of the AFL-CIO is incredibly well informed and shot him down.

“The last thing we should do for our country is cut Medicare, Medicaid and Social Security benefits,” said Silvers.

That’s when anchorwoman Kelly Evans stepped in and pointed out that people want to make sure that our citizens are taken care of, but that that is not the focal point… the point is to cut benefits via negotiation.

Silvers retort, “If you cut Social Security benefits or Medicare benefits to our seniors, to our most vulnerable people in the country, you are going to get no support on it.”  Silver goes on to say that billionaires need to be taxed.  If the billionaires are taxed, the programs (i.e. Social Security, Medicare) can be salvaged.  This is the key to fiscal bliss.

So what happens if you cut Social Security?  That means more than 40% of retirees will be living underneath the poverty line.  Imagine the medical bills, expensive housing if they never owned a home, transportation costs, food, and clothing?  As many point out, when Social Security was established the life expectancy was much lower.  We need to raise the stakes here.

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Read more about the anchors and Silvers at LA Times.

Kenneth G. Marks has been practicing personal injury law since he was admitted to the California Bar in 1981. www.KmarksLaw.com