Our People's Campaign stands with Senator Warren and against the Third Way by supporting breaking up the big banks and expanding Social Security.
In the 2010 Census Pennsylvania had the fourth highest percentage of elderly residents, so the economic and social well-being of our state and all of its people are affected more acutely than almost anywhere else by the way the federal government manages Social Security and Medicare.
We've learned the disastrous effects of Tom Corbett's decision against a federally-funded expansion of Medicaid. It will cost Pennsylvania $10 million in federal assistance daily that should be going to insure 7000,000 Pennsylvanians who will remain uncovered. $10 million daily that would create 40,000 good-paying jobs.
With that horrendous decision in mind, I hope the Pennsylvania Congressional delegation will support the expansion of Social Security recently proposed by Sen. Tom Harkin of Iowa and championed by Sen. Warren. Every member of Congress from Pennsylvania should be in full-throated support for this important legislation. Pennsylvania has too much to gain by its passage, and too much to lose if our Congressional representatives fail to get behind this needed and overdue expansion of Social Security.
To protect seniors, taxpayers and our economy, the six biggest financial institutions in America must be broken up so that we never again are in a situation, where taxpayers are bailing out the biggest, most wealthy corporations and their stockholders. The only way to end a repeat of the "Too Big To Fail" meltdown is to have no financial institution so big that its failure causes financial crisis on Wall Street and economic disaster on Main Street.