New Report Exposes Fatal Flaws in Proposals to Cut Benefits for Older Americans Scott Lilly, a senior fellow at the Center for American Progress, has released a new report entitled “Slash Retirement Benefits or Raise Taxes? The Choice Congress Won’t Face Up To.” The report lays out just how devastating the benefit cuts proposed by Rep. Paul Ryan’s (R-WI) budget and similar proposals would be to seniors. Ryan’s budget would replace Medicare with privately run insurance and give seniors a fixed amount of money with which to buy insurance. Lilly’s findings show that due to the increase in health care costs and the higher costs associated with private insurance compared to Medicare, the Ryan plan would cause health care expenses to consume an ever growing share of Social Security checks. By 2033, an average beneficiary’s entire Social Security check would go towards medical costs. Read the report click below
Posted on: Fri, 23 Aug 2013 17:09:54 +0000
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