Lets be clear. Despite right-wing rhetoric: Social Security is not going broke. According to the Social Security Administration, Social Security has a surplus today of $2.8 trillion and can pay out every benefit owed to every eligible person for the next 20 years. Social Security has not contributed to the deficit. Social Security is funded independently by FICA taxes, which are paid by workers and their employers. The so-called chained CPI, which recalculates how cost of living adjustments are formulated, is not a modest tweak. If the chained CPI went into effect today, a senior aged 65 would receive $658 a year less in Social Security benefits when he/she was 75, and $1,100 a year less at age 85. Further, the average disabled veteran would lose tens of thousands of dollars in benefits over his/her lifetime. Some things should be left alone and not messed with especially by our current members of congress they should all be fired and do not allow them to pass any social security or Medicaid cuts call them now and let them know.
Posted on: Fri, 01 Nov 2013 15:01:37 +0000
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