Funds from revenue are transferred back and forth between the funds (called “reallocation”) as necessary for the government to pay the bills. In fact, it has been done routinely 11 times since 1968.
via Time Goes By.
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“With a little-noticed proposal, Republicans took aim at Social Security on the very first day of the 114th Congress.
The incoming GOP majority approved late Tuesday a new rule that experts say could provoke an unprecedented crisis that conservatives could use as leverage in upcoming debates over entitlement reform.”
via Talking Points Memo.
Related Reading:
- “Changing the rules of the game to target Social Security in the very first hours of a new Congress sends a clear message to seniors, people with disabilities, survivors and their families – a message that certainly wasn’t shared with voters before Election Day – American families who count on Social Security in any way should beware.”
![Earlier this week, Members of Congress and allies met to discuss Social Security and the GOP Congress’ manufactured crisis.
““Seniors, I stand with you all the way [on Social Security].”
- Rep. Jan Schakowsky
“We are in a crisis right now. A...](https://64.media.tumblr.com/93d9258801da499ce7712598d0be22b4/tumblr_njo11hjqsI1qd3gmvo1_1280.jpg)
Earlier this week, Members of Congress and allies met to discuss Social Security and the GOP Congress’ manufactured crisis.
“Seniors, I stand with you all the way [on Social Security].”
- Rep. Jan Schakowsky“We are in a crisis right now. A retirement crisis. Not a Social Security crisis.” - Rep. Jan Schakowsky
“Stop manufacturing a crisis with the Social Security disability trust fund.”
- Senator Bernie Sanders“This week anyone earning a million dollars a year will have paid 100% of their payroll taxes for 2015.”
- Max Richtman
What’s a bigger priority for Republicans to attack even than Obamacare? Social Security. They proved it Tuesday when they included a new rule in their rules package governing the 114th Congress that will prevent it from authorizing what has been routine reallocations of funds between the two Social Security programs, the retirement fund and the disability program.
via Daily Kos.
We’ve written before about the GOP strategy to force broad Social Security benefit cuts while simultaneously demonizing America’s disabled. Senator Sherrod Brown (D-OH) raised the alarm about attempts to politicize what has always been a routine and non-partisan legislative solution to balance the Social Security Trust Funds:
“Reallocation has never been controversial, but detractors working to privatize Social Security will do anything to manufacture a crisis out of a routine administrative function. Modest reallocation of payroll taxes would ensure solvency of both trust funds until 2033. But if House Republicans block reallocation, insurance for disabled Americans, veterans, and children could face severe cuts once the trust fund is exhausted in 2016.”
In one of its first actions, the Republican House of Representatives of the 114th Congress, changed its rules to manufacture a Social Security crisis.
via Salon // AlterNet.
Related Reading:
Social Security Targeted on Day One of New Congress.
Members of the new 114th Congress had barely taken their oaths of office today when they passed a proposal threatening millions of Americans who receive Social Security benefits.
Read more about this possible cut by clicking here or the graphic above.
On day one of the 114th Congress, the House majority made clear they are willing to undermine the social insurance safety net.
Max Richtman (President of the National Committee) on a Press call with Members of Congress.
Related Reading:
Senate Democrats are urging Senate Majority Leader Mitch McConnell (R-KY) to refuse to go along with the House GOP’s plan to force a battle over Social Security in the next two years.
In a letter sent Monday to McConnell, a group of Democrats called the Republican ploy “audacious.” The House adopted a rule last week that will prevent the routine transfer of tax revenue between the retirement and disability funds, upping the chances of a crisis for the latter in late 2016.
via Talking Points Memo.
Related Reading:
- “This provision would make it more difficult to simply rebalance the two funds as has been successfully done 11 times in the past (reallocations have been made in each direction between the two funds) – forcing benefit cuts or tax increases to the Social Security program.”
A group of Democrats in the U.S. Senate came out against a rule Monday that blocks Congress from shifting Social Security funds to prevent a cut to disability insurance next year.
via Huffington Post.
Related Reading:
“This provision would make it more difficult to simply rebalance the two funds as has been successfully done 11 times in the past (reallocations have been made in each direction between the two funds) – forcing benefit cuts or tax increases to the Social Security program.”
The House GOP’s first order of business is to attack Social Security. No legislative hearings or public testimony, just changing the rules of the game. Surprised?
Read more about this stealth cut here:
Social Security Targeted on Day One of New Congress.