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Thread: Official: Obama Proposes Cuts to Social Security

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    Re: Official: Obama Proposes Cuts to Social Security

    Quote Originally Posted by MMC View Post
    Here is what Politico has to say.



    Chain CPI primer: Obama's buzzword explained

    What it does: Chained CPI would lower the cost-of-living adjustments for senior citizens who receive Social Security, veterans’ benefits, and other payments by switching to a different Consumer Price Index that grows more slowly.

    What it could save: $130 billion. <<<<< Seems your Totals weren't all that accurate!

    How it works: The new measure assumes that people change their buying habits when things become more expensive, so they don’t need their benefits to rise as much every year. If they’re buying groceries, for example, and the price of steak is rising, they could buy chicken or fish instead.

    The pitfalls: Not everything works like buying groceries. Seniors tend to have more health care needs than therest of the population, and if their cancer treatment is getting more expensive, they have to go to their oncologist — they can’t get it from the CVS Minute Clinic.

    But Obama would face a big backlash from Democrats – and from key allies like AARP and veterans’ groups – if chained CPI became part of a final deal. Liberals warn that it would take too big a bite out of Social Security benefits to seniors, who have expenses they can’t cut easily, especially medical care. AARP is sounding the alarms, warning that a 92-year-old senior would lose more than 8 percent of his or her Social Security benefits.

    Obama’s offer to Boehner says it includes “protections for vulnerable,” but doesn’t give details. And Obama is insisting that Republicans would only get this kind of concession if they agree to more tax increases, which is a nonstarter right now.

    And he’s probably not even going to gain anything with Republicans — because as Boehner’s office pointed out Friday, the chained CPI would also raise tax revenues by about $100 billion. That’s because it affects how the tax brackets are calculated. If inflation grows more slowly, the tax brackets each year are raised more slowly – so more people’s incomes will push them into higher tax brackets each year, and they’ll end up paying more taxes.....snip~

    Chain CPI primer: Obama's buzzword explained - POLITICO.com Print View
    "And he’s probably not even going to gain anything with Republicans" because they don't want SS fixed or Medicare fixed. They care only about taxes on their rich donors.
    Aint it the truth.

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    Re: Official: Obama Proposes Cuts to Social Security

    Quote Originally Posted by iguanaman View Post
    "And he’s probably not even going to gain anything with Republicans" because they don't want SS fixed or Medicare fixed. They care only about taxes on their rich donors.
    Aint it the truth.
    That's funny.....I haven't heard any of them say that.

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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?
    Instead of rolling back the CPI, if me, I would increase the age from the 62-67 time frame to 64-69 gradually much like the time when the age for maximum benefits was raised from 65-67. But the fact that the president has put SS on the table makes his budget worth looking at.


    Personally, I would like to see the president embrace Simpson/Bowles and go from there. But this is movement and that in itself is a plus
    This Reform Party member thinks it is high past time that we start electing Americans to congress and the presidency who put America first and their political party further down the line. But for way too long we have been electing Republicans and Democrats who happen to be Americans instead of Americans who happen to be Republicans and Democrats.

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    Re: Official: Obama Proposes Cuts to Social Security

    Quote Originally Posted by MMC View Post
    That's funny.....I haven't heard any of them say that.
    Really? You haven't heard them say revenues are off the table?
    After an entire year of their candidate proclaiming that eliminating loopholes was the right way to go.

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    Re: Official: Obama Proposes Cuts to Social Security

    Quote Originally Posted by Perotista View Post
    Instead of rolling back the CPI, if me, I would increase the age from the 62-67 time frame to 64-69 gradually much like the time when the age for maximum benefits was raised from 65-67. But the fact that the president has put SS on the table makes his budget worth looking at.


    Personally, I would like to see the president embrace Simpson/Bowles and go from there. But this is movement and that in itself is a plus
    Krugman has come out and slammed it, as well. Sanders is vowing to fight it should it attempt to pass.

    Well and throwing back half the 800 billion he took from Medicare would at least have to cause the House to look at it.....which they did and seeing that it would raise taxes on the elderly. It's not going anywhere.....in Obama's way.

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    Re: Official: Obama Proposes Cuts to Social Security

    Quote Originally Posted by iguanaman View Post
    Really? You haven't heard them say revenues are off the table?
    Yeah I did.....but that has nothing to do with fixing the problem. Besides.....Obama was given his revenues and was offered an Addition 600 Billion. It was turned down. Moreover even the OP confirms the Left would have a problem with this issue. Especially AARP who is already out warning their people.

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    Re: Official: Obama Proposes Cuts to Social Security

    Quote Originally Posted by MMC View Post
    Krugman has come out and slammed it, as well. Sanders is vowing to fight it should it attempt to pass.

    Well and throwing back half the 800 billion he took from Medicare would at least have to cause the House to look at it.....which they did and seeing that it would raise taxes on the elderly. It's not going anywhere.....in Obama's way.
    I will wait and take a look at it before I make up my own mind.
    This Reform Party member thinks it is high past time that we start electing Americans to congress and the presidency who put America first and their political party further down the line. But for way too long we have been electing Republicans and Democrats who happen to be Americans instead of Americans who happen to be Republicans and Democrats.

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    Re: Official: Obama Proposes Cuts to Social Security

    Quote Originally Posted by MMC View Post
    Krugman has come out and slammed it, as well. Sanders is vowing to fight it should it attempt to pass.

    Well and throwing back half the 800 billion he took from Medicare would at least have to cause the House to look at it.....which they did and seeing that it would raise taxes on the elderly. It's not going anywhere.....in Obama's way.
    So because the left predictably slams it, the right will use that as an excuse not to close a single loophole on the wealthy. That's the GOP way. Do you think cutting SS was Obamas idea?

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    Re: Official: Obama Proposes Cuts to Social Security

    Quote Originally Posted by iguanaman View Post
    So because the left predictably slams it, the right will use that as an excuse not to close a single loophole on the wealthy. That's the GOP way. Do you think cutting SS was Obamas idea?
    I would recommend that you look up Ryans Plan. As he addressed the issue about those who are the Wealthy. Kinda like goes with the same Idea of stopping Millionaires from Collecting food stamps.

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    Re: Official: Obama Proposes Cuts to Social Security

    Quote Originally Posted by MMC View Post
    I would recommend that you look up Ryans Plan. As he addressed the issue about those who are the Wealthy. Kinda like goes with the same Idea of stopping Millionaires from Collecting food stamps.
    I've got breaking news. Ryan lost the election and his plan was rejected by the voters.

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