We Must Protect Social Security and Medicare

Ever since supply chain problems drove prices higher around the world, I have worked hard to blunt the effects of inflation on the middle class and the most vulnerable among us – especially those on fixed incomes, like seniors and people living with disabilities.

Most notably, in Congress we have worked to slash the costs for prescription drugs through the Inflation Reduction Act, ensuring millions will never have to pay more than $2,000 a year in out-of-pocket costs or more than $35 a month on insulin. We’ve also passed legislation to allow the government to negotiate drug prices down for the first time. Other legislation will lower people’s costs at the gas pump, the grocery checkout, on people’s energy bills, their taxes and more.

But right now, all of this progress is in jeopardy. Because Republican leadership in Congress, out of touch with the public, is actively threatening to play politics with seniors’ incomes, the health of our economy, and much more if they take control in January.

Already they are pledging to repeal those hard-won efforts to lower prescription drug costs. And after years of talking about cutting Social Security, they’re looking to finally make good on those threats – 158 House Republicans have endorsed a plan to privatize the program, raise the retirement age to 70 and end Medicare as we know it.

Even worse, last week Minority Leader Kevin McCarthy said Republicans would leverage economic disaster to get it all done – threatening to withhold votes to raise the debt ceiling in order to achieve drastic cuts to both Social Security and Medicare.

Playing fast and loose with the full faith and credit of the United States is no trivial matter. Not raising the debt ceiling could lead us to a default that would cost millions of people their life savings, retirements and livelihoods.

McCarthy claims they would do all of this in the name of “fiscal responsibility” and that Democratic efforts to raise the debt ceiling are an excuse to spend more money on “wasteful” programs. In reality, it’s the Inflation Reduction Act that’s paving the way for a historic reduction in our nation’s debt to the tune of more than $300 billion – all while cutting people’s costs for health care, energy and more.

Let’s not forget too that these same Republicans under President Trump are responsible for more than 25% of our current debt over the limit. And that spending certainly wasn’t targeted to make the economy fairer for workers and families.

In fact, it was primarily done to pay for Trump’s tax cuts – a massive giveaway for the ultra-wealthy and large corporations. And now, they’re looking to make those tax cuts permanent and to slash Social Security and Medicare to pay for it.

Kevin McCarthy’s ambition, and his priorities, are clear as day. With an opportunity to gain political power in his sights, he wants to take away programs that help millions of seniors, workers and middle-class families make ends meet, and add to inflation and the deficit, all in order to make the wealthy and corporations even richer.

Seniors and those living on fixed incomes are already staring down the daunting reality of rising prices and economic uncertainty. We must do everything we can to ease that burden, not add to it. And the results we have achieved so far are literally paying off – starting next year, for the first time in a decade, Social Security checks will increase while Medicare premiums will decrease.

Most Americans, including most Republicans, do not want to see Social Security and Medicare cut. But GOP leadership in Congress is out of step with the public. Our seniors, our workers, our families, our middle class and our nation, simply cannot afford to let Congressional Republicans get their way. We must ensure Social Security and Medicare endure for generations to come, and continue our work to make the economy fairer for everyone.