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Social Security Cuts

Future Retirement Security at Risk

A. Barry Rand | Posted 05.11.2013 | Politics
A. Barry Rand

It's time to have a national discussion about how to ensure that Social Security continues to contribute to the future security of older Americans -- not in the context of reducing a federal deficit it did not create, but with the goal of helping people achieve a comfortable retirement.

The Grand Bargain We Don't Need

Robert Kuttner | Posted 05.10.2013 | Politics
Robert Kuttner

It isn't Social Security and Medicare that are killing other social programs, but Republican refusal to support them. The ratio of public debt to GDP is roughly stable for the next decade. If we begin making cuts now, whether in Social Security and Medicare, or in other outlays, we will slow the recovery. That will only worsen the debt ratio over the long term, and at a depressed level of economic output. Republicans do resist higher taxes, but at times Democrats have prevailed in raising taxes on the rich -- with the full support of the voters. President Clinton managed it in 1993, and even President Obama, though he settled for too skimpy a bargain, got Republicans to vote for a $630 billion tax hike on the top one percent last January. Faced with a choice of cuts in Social Security and Medicare or tax increases on the wealthy, polls show that most voters opt for the taxes.

Republican Reveals Party Secretly Wants To Duck Entitlement Reform

The Huffington Post | Will Wrigley | Posted 03.01.2013 | Politics

WASHINGTON -- A Republican member of Congress said this week the party wants to avoid reforming so-called entitlement programs, even though GOP leader...

The Sequester Debacle: Who Takes the Fall?

Robert Kuttner | Posted 04.26.2013 | Politics
Robert Kuttner

The sequester, and all the sequential sequesters over the next decade, deprive Democrats of the resources that they need to be, well, Democrats. Obama can proclaim big, bold initiatives as he did in the State of the Union Address, but they are all mere gestures -- because there is no money to spend on any of them, thanks to the bipartisan obsession with budget cutting. Even worse, Democrats end up colluding in eviscerating very popular and necessary signature programs like Medicare and Social Security, which literally define the core differences between the two parties. So by 2016, and even by 2014, nobody will much remember who was more at fault in the sequester battle of early 2013. The voters will be looking at their own economic situation, and it won't be pretty.

Increasing Social Security Benefits: An Idea Whose Time Has Come

Richard (RJ) Eskow | Posted 04.13.2013 | Politics
Richard (RJ) Eskow

The concept of increasing Social Security has been around for a while. Strengthen Social Security, a coalition of 320 groups, reviewed the program's ability to meet current and future needs and concluded that benefits should be increased rather than cut.

The Myth of Social Security's Insolvency

Fred Lundgren | Posted 04.12.2013 | Politics
Fred Lundgren

It is time for all top wage earners and all the other Social Security mythmakers to put away their bad ideas and silence their propaganda for the real good of America.

Arthur Delaney

Bernie Sanders Calls Out Social Security Haters | Arthur Delaney | Posted 01.31.2013 | Politics

WASHINGTON -- Seventy-three years ago to the day, Ida May Fuller of Ludlow, Vt., was issued the first Social Security check. "It wasn't that I exp...

Krugman: 'Right-Wing Intellectuals And Politicians Live In A Bubble'

The Huffington Post | Alana Horowitz | Posted 01.28.2013 | Business

Paul Krugman took on the argument that America is becoming a nation of takers. "Right-wing intellectuals and politicians live in a bubble in which...

A Program for Fighting Poverty: No Cuts to Social Security or Medicare, and Medicare for All

Rose Ann DeMoro | Posted 03.25.2013 | Politics
Rose Ann DeMoro

It's time to send an unmistakable message to Congress and the White House: End the silence on poverty, don't make poverty worse by making cuts to Social Security or Medicare, and address a principle cause of poverty with a permanent fix to our dysfunctional health care system.

The 3 Percent Cut to Social Security: aka the Chained CPI

Dean Baker | Posted 03.16.2013 | Business
Dean Baker

While the politics of cutting Social Security are bad, it also doesn't make much sense as policy. From a policy standpoint it would make far more sense to tax Wall Street speculation.

JetBlue and Its Friends Are Trying to Ruin Your Old Age

Richard (RJ) Eskow | Posted 03.15.2013 | Politics
Richard (RJ) Eskow

Forty more corporate CEOs, including JetBlue's, have joined a covert lobbying group for Wall Street, billionaires, and the defense industry called "Fix the Debt," in an effort to maximize their own already-swollen bank accounts by destroying your financial future.

Jennifer Bendery

Nancy Pelosi: My Support For Social Security Cut 'Was Really To Call The Bluff' Of Republicans | Jennifer Bendery | Posted 01.04.2013 | Politics

WASHINGTON -- House Minority Leader Nancy Pelosi (D-Calif.) upset progressives last month when, amid the fiscal cliff debate, she said she backed the ...

Obama's Bad Deal and Worse Negotiating

Miles Mogulescu | Posted 03.03.2013 | Politics
Miles Mogulescu

By easily compromising on his central campaign promise that he claimed was a line in the sand, Obama signaled to Republicans that there's nothing he won't compromise on.

New Year, New Low for Republicans

Robert Kuttner | Posted 03.01.2013 | Politics
Robert Kuttner

Obama wanted to be the president who would change the tone in Washington, meaning a more collaborative relationship with the Republicans. That was not to be. The Republicans would not allow it.

Michael McAuliff

GOP Gives In On Social Security Cuts | Michael McAuliff | Posted 12.31.2012 | Politics

WASHINGTON -- Tense "fiscal cliff" negotiations on Capitol Hill Sunday inched forward slightly as Republican senators agreed to take Social Security c...

Social Security: What Is At Stake? Why Now?

Robert E. Prasch | Posted 02.27.2013 | Politics
Robert E. Prasch

For the second time in little over a year, the Obama Administration has made a pre-emptive offer to change the formula for adjusting Social Security's Cost of Living Adjustment formula as part of a "Grand Bargain." What is at stake?

Dear Congress: A Vote for the Chained CPI Is a Vote to Cut Social Security Benefits

Eric Kingson | Posted 02.27.2013 | Politics
Eric Kingson

A typical Social Security retiree would lose roughly $500 in benefits at age 75 under the chained CPI as compared to the current law; $1,000 in their 85th year and $1,500 at age 90.

'Right-Wing Social Engineering' Still Strong Despite Democratic Gains in 2012

Joseph A. Palermo | Posted 02.19.2013 | Politics
Joseph A. Palermo

President Obama and the Democrats' willingness to accept cuts to Social Security in the form of the gimmicky "chained CPI" right after an election where no candidate for federal office campaigned on it shows that the Right's long-term project of undoing the New Deal marches on despite the electorate's wishes.

Social Security Is Still the Third Rail (You've Been Warned)

Dave Johnson | Posted 02.18.2013 | Politics
Dave Johnson

Senators and Representatives who are thinking of touching the "third rail:" How many constituents are calling your office today to say, "Yes, I want you to cut the Social Security COLA"?

Note to Incumbents

John R. Burbank | Posted 02.18.2013 | Politics
John R. Burbank

Interested in re-election in 2014? You can pack your bags for home if you vote for the chained CPI. It doesn't matter what party: if you are a Democrat, the Republican candidate will hammer you for cutting Social Security.

Obama Offers Boehner Old Ladies' Scalps

Miles Mogulescu | Posted 02.18.2013 | Politics
Miles Mogulescu

If you're an 85-year-old lady living on $14,000 a year in Social Security, having your benefits cut by roughly $1,000 a year could mean choosing between paying for food or paying for medicine. In some cases it could mean the difference between life and death.

8 Deficit Reducers That Are More Ethical -- And More Effective -- Than the "Chained CPI"

Richard (RJ) Eskow | Posted 12.18.2012 | Politics
Richard (RJ) Eskow

News reports say the president's proposed deal includes the "chained CPI," which would impose drastic Social Security cuts and tax hikes for everybody but the wealthy. And House Minority Leader Nancy Pelosi says that "Democrats will stick with the president." They should both think again.

Obama Puts Democrats In Bind

Reuters | Posted 02.17.2013 | Politics

By Rachelle Younglai WASHINGTON, Dec 18 (Reuters) - President Barack Obama has put Democrats in Congress in a tough spot politically a...

When You've Lost the VFW on Budget Cuts, You've Lost America

Richard (RJ) Eskow | Posted 12.12.2012 | Politics
Richard (RJ) Eskow

While it is sneaky, it's not that complicated. The "chained CPI" concept can be explained in one sentence: It calculates cost-of-living increases much more slowly than before, by subtracting the cost of the things you can't afford to buy anymore.

Playing Doomsday Politics

James P. Hoffa | Posted 02.09.2013 | Politics
James P. Hoffa

After a grueling election, Americans now simply want their elected leaders to solve real problems, not to cut the retirement and health benefits they work all their lives to earn.