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Today's Top News
Kucinich: Push the Middle Class Off the Cliff? No WAY!
"Highly-paid CEO's are in town to tell America how to avoid the 'fiscal cliff.'
"The top priority of the 'Fix the Debt CEO's' is to cut the essential commitments of Medicare, Medicaid and Social Security. No skin off their noses. Sorry, you 50 million Americans who are in poverty. Too bad, you millions of children, elderly and poor who rely on Social Security, Medicare and Medicaid. Unemployed? You are just out of luck if you lose unemployment benefits.
"These 71 CEOs who come to Washington to preach fiscal austerity have average retirement assets of $9.1 million. That's about a $65,000 pension check each month for the rest of their lives. In contrast, the average monthly Social Security check for retired workers is $1,237.
"Of all these debt cutting CEO's, only two have sufficient assets in their companies' pension funds to meet their obligations to their own workers. The rest who pay any pension at all have underfunded their workers' pension funds by $103 billion.
"Those who have already shoved their own retiring workers off the fiscal cliff want to do it to the rest of the middle class and poor. NO WAY."