tv Washington Journal Rep. John Larson CSPAN February 1, 2023 1:26pm-1:32pm EST
these other television providers, giving you a front row seat to democracy. continue. host: senior member of the house committee. one who has joined us over the years to talk about a tell of programs, social security. in this season of state of the union, how would you describe the social security program
right now? rep. larson: it is fine because of the contributions that have been laid. guest: congress has not done anything in 50 plus years to enhance the program and improve the benefits. a loaf of bread costs $.72 in 1971, the last time social security had a major expansion of benefits. while it is sound and people should understand this is taking credit in the united states, because of the neglect on the part of congress, there has not been an increase. that needs to be changed permanently, so that seniors and individuals who have disability are on the program are able to get financial backing they need.
host: expanding or enhanced the benefits of social security is about $1 trillion a year? about in 21 5% in gdp. why is it expanding if we are not enhancing or expanding the program itself? guest: 10,000 baby boomers a day become eligible for social security. they represent the largest group. at 10,000 becoming eligible day, social security of congress -- if social security and congress does nothing, every year congress delays do something -- delays doing something it gets harder to make up the difference.
harder in terms of the costs because social security needs to be paid for. a point i always make. i think one your listeners understand. social security is not an entitlement plan. this is a earned benefit. all they need to look at their federal insurance contribution. some like to call it tax. it is federal insurance contribution whose, yours. i think citizens know this and they understand it is a earned benefit they are at a gasp when they learned that congress has not done anything in over 50 years to enhance the program. we have 5 million people, 5 million fellow americans that get below poverty level checks from social security. having worked and paid into the
system. 5 million, predominantly women of color, none the less it is 5 million americans in the poverty level. 12,000 800,000. how do you live in under 12,800? host: do you take speaker mccarthy at his word when he said that cuts to social security are off the table when it comes to what may happen here in a negotiation about the debt limit and possible spending cuts? host: we know that president trump -- unfortunately, i hope the speaker is correct. social security should not be held hostage by the debt ceiling. overly their negotiations today proved to be fruitful. i think with the president is going to ask in that what i think everyone should ask speaker
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