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Thread: Official: Obama Proposes Cuts to Social Security

  1. #11
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    Re: Official: Obama Proposes Cuts to Social Security

    What about a cut in politician's pensions that last a life time for only two years of service?
    What about the elimination of them voting for raises for themselves?
    It's nothing more than X's and O's.

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    Re: Official: Obama Proposes Cuts to Social Security

    Quote Originally Posted by MMC View Post
    WASHINGTON (AP) — President Barack Obama's proposed budget will call for reductions in the growth of Social Security and other benefit programs by including a proposal to lower cost-of-living adjustments to government social safety net spending, a senior administration official says.
    The proposal attempts to strike a compromise with congressional Republicans on the Fiscal 2014 budget by combining the president's demand for higher taxes with GOP insistence on reductions in entitlement programs.




    The official, who spoke on a condition of anonymity to describe a budget that has yet to be released, said Obama would reduce the federal government deficit by $1.8 trillion over 10 years.

    A key feature of the plan Obama is proposing for the federal budget year beginning Oct. 1 is a revised inflation adjustment called "chained CPI." This new formula would effectively curb annual annual increases in a broad swath of government programs, but would have its biggest impact on Social Security.

    Obama's budget, to be released next week, comes after the Republican-controlled House and the Democratic-run Senate passed separate and markedly different budget proposals. House Republicans achieved long-term deficit reductions by targeting safety net programs; Democrats instead protected those programs and called for $1 trillion in tax increases.

    The reductions in growth of benefit programs, which would affect veterans, the poor and the older Americans, is sure to anger many Democrats. Labor groups and liberals have long been critical of Obama's offer to Boehner for including such a plan.....snip~

    Official: Obama proposes cuts to Social Security

    Looks Like Obama just got a bunch of Democrats highly upset with him. Here the Demos were running around talking about how Republicans wanted to go after Social Security. Which Ryan talked about but not in a way to tear down the Entitlement. Repubs were looking for the age to be pushed back due to people living longer and the advances in healthcare. Now who does this affect more? The Middle Class and Poor or the Rich? Who was talking about fairness? Thoughts?
    I'm not happy about changes to Soc Sec since it directly affects me, but if it will help fix SS for the future then I am all in.
    "Being President doesn't change who you are, it reveals who you are"

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    Re: Official: Obama Proposes Cuts to Social Security

    Quote Originally Posted by MaggieD View Post
    Unbelievable. I think it's wrong to take anything away from Social Security recipients -- including COLA adjustments to their meager average of something like $1200/month. This is huge, in my opinion. If the government wants to change SS, it should change it for those 45 years and younger to give those people a chance to do something about it. If his plan is only to effect those people, then it's not as bad.

    There is no doubt in my mind that we are going to eventually inflate ourselves out of the mess we're in. To take away (or minimize) COLAs to those currently receiving SS (or close to receiving it) is unconscionable.
    I agree with everything except changing it for younger folks. Sorry but I don't think screwing younger generations is how entitlements should be "fixed".
    “Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.” John Maynard Keynes

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    Re: Official: Obama Proposes Cuts to Social Security

    Quote Originally Posted by iliveonramen View Post
    I agree with everything except changing it for younger folks. Sorry but I don't think screwing younger generations is how entitlements should be "fixed".
    How is it screwing younger generations?

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    Re: Official: Obama Proposes Cuts to Social Security

    Quote Originally Posted by MMC View Post
    How is it screwing younger generations?
    How is it not? We're paying the same % of our income for life and recieving less benefits.
    “Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.” John Maynard Keynes

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    Re: Official: Obama Proposes Cuts to Social Security

    Quote Originally Posted by iliveonramen View Post
    How is it not? We're paying the same % of our income for life and recieving less benefits.
    Well, if seniors and Vets are getting screwed and they put twice the amount than what younger generations have.....and or are. Then all are losing benefits.....not just the younger generations. Moreover Ryan wanted people to be able to put their benefits into trusts.

    So actually it those who are Older that are getting really screwed as they have paid in twice the amount.

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    Re: Official: Obama Proposes Cuts to Social Security

    reducing the annual increase in SS benefits by a few tenths of a percent will not result in much of an impact to anyone that receives those benefits.

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    Re: Official: Obama Proposes Cuts to Social Security

    Quote Originally Posted by MMC View Post
    Well, if seniors and Vets are getting screwed and they put twice the amount than what younger generations have.....and or are. Then all are losing benefits.....not just the younger generations. Moreover Ryan wanted people to be able to put their benefits into trusts..
    Nobody is paying more than anyone else. Unless they drop FICA tax rates everybody will retire paying the same % of their income into entitlements.

    Actually the only people that have paid less are those that worked before the hike in the 80's. If you worked in the 70's or 60's you have paid less as a % of your income than younger folks will over their life time.

    As for Ryan...it's in a trust. I'm not sure what his plan was..maybe that trust was private and wall street bankers make a 1 or 2% cut from the multi trillion dollar SS trust fund? Basically free money to Wall Street? Yeah great plan.
    So actually it those who are Older that are getting really screwed as they have paid in twice the amount
    Actually I don't support changing SS period.

    But no....older folks will have paid the same % of their salary as younger folks that retire in 40 years. Nobody is paying more or less in. If Chained CPI is implemented for only folks under age X then yes...folks under age X are getting screwed because at retirement they would of paid the same as someone that was born in say 63 but just receive less since they were born in 84.
    “Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.” John Maynard Keynes

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    Re: Official: Obama Proposes Cuts to Social Security

    Quote Originally Posted by iliveonramen View Post
    Nobody is paying more than anyone else. Unless they drop FICA tax rates everybody will retire paying the same % of their income into entitlements.

    Actually the only people that have paid less are those that worked before the hike in the 80's. If you worked in the 70's or 60's you have paid less as a % of your income than younger folks will over their life time.

    As for Ryan...it's in a trust. I'm not sure what his plan was..maybe that trust was private and wall street bankers make a 1 or 2% cut from the multi trillion dollar SS trust fund? Basically free money to Wall Street? Yeah great plan.

    Actually I don't support changing SS period.

    But no....older folks will have paid the same % of their salary as younger folks that retire in 40 years. Nobody is paying more or less in. If Chained CPI is implemented for only folks under age X then yes...folks under age X are getting screwed because at retirement they would of paid the same as someone that was born in say 63 but just receive less since they were born in 84.
    Thanks, I see where you were going with it now.

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    Re: Official: Obama Proposes Cuts to Social Security

    and what are the chances congress will approve higher taxes for the rich in return for a reduction in the rate of increase of social security benefits
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    once you're over the hill you begin to pick up speed

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