themcglynn.com

12 Apr

President Obama has ignored the voices of the majority of the American people

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In another foolish “let’s make a deal” attempt in Washington, Social Security has been willingly offered up as sacrifice on the budget chopping block. President Obama has ignored the voices of the majority of the American people who agree that Social Security has not caused the federal deficit and therefore should not be cut in an attempt to decrease the deficit.

Problem:

In spite of the repeated promises to leave Social Security unharmed, President Obama has proposed cuts to the program’s benefits in his federal budget proposal that was just released. In an attempt to “negotiate” with Republicans, he included the chained CPI as a part of his project proposal under the deceptive guise of a technical fix to the cost of living adjustment calculation. But we know better! The chained CPI is nothing more than a stealth benefit cut to Social Security benefits.

The chained CPI would unfairly harm beneficiaries by:

  • Reducing the value of benefits by about 0.3% and cuts would get deeper every year. This would result in a cut of about $130 per year for a typical 65 year-old. By age 85, the average person who started receiving Social Security at age 65 would lose $1,139;
  • Immediately reducing benefits for both current and future beneficiaries who rely on Social Security for their most basic living expenses; and
  • Being less accurate and underestimating the inflation and real increases in the cost of living needs of elderly beneficiaries.

For more information on how President Obama’s proposal of the chained CPI is a bad deal for Americans, check out former Secretary of Labor Robert Reich’s video below.

Solution:

There are more just ways of balancing the budget than on the backs of ordinary Americans. As a more fair budget solution, we believe that Congress should:

  • Cut at least $1 trillion over 10 years out of the Pentagon budget;
  • Protect critical social programs from harmful cuts;
  • Close tax loopholes for wealthy Americans and corporations who have evaded paying their fair share;
  • Reject benefit cuts to Medicare, Medicaid, and Social Security including a shift to the use of the chained CPI; and
  • Redirect funds to create jobs and invest in the economic security of our communities.

Gray Panthers recently adopted our own position paper on the federal budget that responds to the needs of all Americans and provides more fair solutions to our budget problems. (Click here to view full document. or see below) These solutions are based on our principles, including making sure the wealthy and corporations paid their fair share of taxes, cutting pork from the Pentagon budget and protecting Social Security, Medicare and Medicaid.

Action Needed:

Gray Panthers appreciates your support in working towards our vision of social and economic justice for ALL people.


  




  

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