Sen. Bernie Sanders (I-VT): Social Security is “Not Going Broke”

By Kristina

Mar 15, 2011 2:32pm

ABC News’ Karen Travers reports:

Today on ABC’s Top Line, Sen. Bernie Sanders (I-VT) dismissed the talk of Social Security going broke as “total nonsense” and said, “Social security has a $2.6 trillion surplus. Could pay out every benefit owed for the next 26 years,” he said. “It is not going bankrupt and it is not going broke.”

Today Sanders introduced legislation to protect Social Security from efforts to cut benefits or raise the retirement age.  The bill would require a supermajority vote (60 votes) on any cuts to the system. Sanders said the “attack” on Social Security is about Republican ideology, not deficit reduction.

“I get a little bit disturbed when I hear folks going on the floor of the Senate or in the media talking about Social Security is going broke,” he said. “’We have to reduce benefits, we have to privatize it, we have to raise the retirement age.’ That is all total nonsense.”

Asked about Congress’ piecemeal approach to budget resolutions, Sanders said the debate over the budget cannot just be about cutting spending. He recently introduced legislation to raise taxes on Americans making more than $1 million, what he called “a surtax on millionaires,” in order to bring in more revenue.

“You have the richest people in this country becoming wealthier, their effective tax rate is the lowest on record. The top 2% have received hundreds of billions of dollars in tax breaks,” he said. “And the solution to the deficit crisis is what? To throw kids off of Headstart, to do away with or cut back substantially with nutrition programs for pregnant women? That makes no sense.”

Asked if he will hold another filibuster on a spending bill, Sanders demurred. “Not right away,” he said.

Watch the segment with Sen. Bernie Sanders HERE.

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