Social Security’s economic contribution to communities across the nation is very significant.
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The political right has predictably pounced on the recently-released Social Security Trustees report to call for “entitlement reform” – code for cutting the program. Once again, they are using projections about Social Security’s long-term finances to justify raising the retirement age, reducing COLAs, and cutting benefits. This should not come as a surprise. In the wake of the Trump/GOP tax giveaway to billionaires and big corporations, prominent Republicans all but said that future retirees would be asked to pay the price.
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Social Security already helps millions of younger working-age families (approximately 16 million beneficiaries) through disability, dependents’ and survivors’ benefits. The truth is that this family leave proposal from Senator Rubio, an outspoken advocate of “entitlement reform” (code for cutting earned benefits), is – at its core – a benefit cut for future retirees and their families.
via Entitled to Know.
via twitter.
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Opportunity and Peril on Social Security’s Anniversary.
After more than eight decades of providing workers and their families with financial security upon retirement, disability or death, fiscal hawks continue their assault on the program, calling for “entitlement reform” – which really means benefit cuts, raising the retirement age, and privatization.
So yes, our economy is changing, and yes, Social Security must change with the times. But the change that must occur is not cutting it back, quite the contrary. We have to expand Social Security and create a robust, single-pillar retirement system for every worker, one that is portable from job to job.
The creation of expanded Social Security Plus would provide a secure and comfortable retirement for every American, and contribute greatly toward a solid foundation from which to build a strong and vibrant 21st-century economy. Our retirees, our families, our businesses, and our communities deserve no less.
via American Prospect.
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Congress needs to BOOST Social Security benefits for all working Americans.
Social Security is indispensable for many of our nation’s retirees, who depend on the program for retirement security. But for the 65 million people on Social Security, there will be no annual raise in their benefits in 2016.
via NJ.com.
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No COLA Increase for Millions of Seniors.
No Social Security COLA Increase + Massive Medicare Hike for Millions.
Mulvaney, who supports Social Security and Medicare reforms, told CNBC ‘we’re working on’ persuading Trump to embrace entitlement reform, including changes to Social Security Disability Insurance.
Some in Washington talk about a need for “entitlement reform.” That translates to possible cuts to Social Security, Medicare, or Medicaid — or all three. One crucial element should not be missed: These safety net programs work in tandem. Changes to one affect another. Just-released data show this is particularly true for older Americans, whose financial and health security depend on these programs working in concert.
A new report from the Kaiser Family Foundation lays bare this interdependence. Nearly three-quarters of retirees see little to no annual increase in their Social Security income after they pay their Medicare hospital and drug premiums.
Read more from this article via The Hill.
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Asked Monday if the Trump administration would address “entitlement reform,” White House chief economic advisor Larry Kudlow said it will “probably” look at “larger entitlements” next year. Entitlement reform generally refers to changes or cuts to large government social programs such as Social Security, Medicare, Medicaid or food stamps.
via CNBC.
Related Reading:
Trump Advisor Re-Affirms Commitment to Cutting Social Security & Medicare.
- This aligns with comments from National Republican Congressional Committee chair, Rep. Steve Stivers, House Speaker Paul Ryan, and several other key GOP members about the need to pay for last year’s tax cuts by ‘reforming’ Social Security and Medicare. ‘Reforming,’ of course, means cutting and privatizing.
Let’s get something straight: Social Security is not an entitlement program. It’s the insurance you’ve paid for paycheck after paycheck. The benefits Social Security provides for retirees, the disabled, survivors, spouses and dependents would simply be unavailable on the private market.