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Insider’s Report: New Senior Poverty Data Disproves ‘Greedy Geezer’ Myth |
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Conservative think tanks have been pushing a false narrative that older Americans who collect Social Security are somehow ‘ripping off’ younger adults. This propaganda ignores the facts — pitting hardworking Americans (of all ages) against one another. |
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While right-leaning analysts argue that younger workers shouldn’t have to pay into Social Security while wealthy ‘greedy geezers’ collect benefits, the data tells a different story. New statistics show that poverty among seniors is on the rise, reaching 15% in 2024, according to the U.S. Census Bureau’s Supplemental Poverty Measure (SPM). |
Seniors now have the highest poverty rate of any demographic group. They also are the only group whose poverty rate increased last year, as pandemic relief programs faded and persistent inflation — exacerbated by President Trump’s tariffs — put an additional strain on their finances. |
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The latest U.S. Census Bureau data shows that seniors continue to face significant economic challenges. Traditional poverty rates (different from the SPM) among Americans aged 65 and older ticked up in 2024, rising to nearly 10%. This contrasts with declines in poverty observed for children and working-age adults during the same period. |
As you know, Social Security and Medicare are lifelines for tens of millions of seniors, many of whom are struggling to make ends meet. The myth that the most vulnerable among us are lining their pockets at the expense of younger generations would be laughable if it wasn’t so harmful. |
In a recent piece in Newsweek, NCPSSM President and CEO Max Richtman called Social Security a “win-win for the older and younger generations” and criticized what he called “a false narrative that needlessly pits the generations against each other.” |
In fact, younger generations will depend on Social Security even more than today’s seniors, given that they are less likely to have access to traditional pensions, face record student debt and have seen housing and healthcare costs rise much faster than wages. |
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Medicare Open Enrollment Has Begun |
Have you looked at your Medicare Part D and Advantage plans to ensure they still work for you? Does it make more sense to enroll into traditional Medicare? Each year, both Medicare Advantage and Part D plans make changes to their benefits, cost-sharing, provider networks and monthly premiums. That means the plan that best served you in 2025 may not be the best plan for you next year.
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Ask Us! |
Whether you’re retired or approaching retirement, our team of experts in the field of Social Security policy is available to answer your questions about benefits.
You can either search our archives for valuable advice on a broad range of concerns or submit your question here.
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This week’s question is: A Federal retiree who is not eligible for Social Security has elected a 100 percent survivor annuity for his spouse. His wife is eligible for Social Security benefits based on her own work history. When he dies, does she collect the full 100 percent spousal survivor annuity plus her own Social Security or is her Social Security or survivor annuity reduced? |
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A free subscription, keeps you on top of the latest news about your earned benefits. |
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Your support sustains our campaigns in Washington to protect and strengthen Social Security and Medicare. |
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Learn more about the Social Security program and the policies the National Committee supports that would strengthen your earned benefits. |
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The National Committee has endorsed a bill introduced by Senator Richard Blumenthal to tie COLAs to a new inflation index for seniors, when that index would provide a bigger increase. “We believe this bill would go a long way toward protecting those on fixed incomes from the ravages of inflation,” said NCPSSM President & CEO, Max Richtman. (October 28, 2025, Think Advisor, Melanie Waddell) |
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Pensions are quickly becoming a thing of the past, to the point where union members rely on Social Security like everyone else. The Alliance for Retired Americans advocates for the retirement security of all working people, including millions of union members. Executive Director Rich Fiesta says that everyone has a stake in preserving Social Security... at a time when the most anti-union administration in recent history is trying to undermine it. (October 27, 2025, National Committee Podcast Episode) |
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Max Richtman, President & CEO of the National Committee to Preserve Social Security and Medicare, reassures Social Security beneficiaries: “The system has not failed to make a single payment in 90 years and will not start now.” (October 27, 2025, MSN, Diego Pérez Morales) |
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The federal government shutdown, now in its fifth week, halted funding for the Medicare telehealth program. This has created challenges for millions of patients who count on pandemic-era telehealth waivers to attend medical appointments from home. (October 30, 2025, PBS News, Ali Swenson and Obed Lamy) |
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The Boosting Benefits and COLAs for Seniors Act is supported by a number of organizations, including the National Committee to Preserve Social Security and Medicare. (October 27, 2025, senate.gov, Press release) |
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The Social Security COLA will be 2.8% for next year. Tariffs imposed by the Trump administration have caused inflation to increase significantly, which means the COLA is likely insufficient. (October 27, 2025, The Motley Fool, Trevor Jennewine) |
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Advocates for Social Security recipients argue that Commissioner Frank Bisignano may simply have too much on his plate after also being named as CEO of the IRS. “This agency is too important to have a part-time leader,” National Committee to Preserve Social Security and Medicare President Max Richtman told CNBC. (October 29, 2025, Yahoo!, Kaili Killpack) |
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Member contributions to the National Committee, a nonprofit 501(c)(4) organization, are not tax-deductible. |
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