July 4, 2020

Elizabeth Warren tasks Obama in senate on social security cuts


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elizabeth-warren-6744_150x150By Will Stabley Stabley Times

Elizabeth Warren isn’t having any of it when it comes to President Obama’s renewed willingness to work with republicans in the senate on a budget compromise which includes cuts to existing social security benefits. “Two thirds of seniors rely on social security for most of their income,” Warren said on the matter. “One third rely on it for at least ninety percent of their income. These people aren’t stashing their social security checks in the Cayman Islands and buying vacation homes in Aruba. They are hanging on by their fingernails to their place in the middle class.”

The references to the Cayman Islands and Aruba tie in with Elizabeth Warren’s ongoing battles in the senate to bring light to the number of wealthy Americans who are avoiding their tax burden by stashing money in offshore island accounts. She’s also faced off against Wall Street CEOs, demanding accountability for the 2008 financial sector meltdown and denouncing the idea that any U.S. financial institution is “too big to fail.”

While Obama has stated that he prefers not to cut social security, some republicans in congress are insisting on such cuts as part of any budget compromise to fend off across-the-board sequester cuts. Warren, a first term democratic senator from Massachusetts in a seat once held by Ted Kennedy, has shown thus far that she’s willing to stand up to the wealthy and financially powerful. Her latest words on social security suggest that she’s just as willing to take on her own democratic party leader President Obama when it comes to protecting seniors. While social security is commonly referred to as a benefit, such payments to seniors are instead a refund of money systematically taken from their paychecks during the course of their working career.

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