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Democrats plead with Obama to abandon Social Security cut
Posted on 1/11/14 at 11:38 am
Posted on 1/11/14 at 11:38 am
Too funny, Dims runnin skeered.
Democratic senators are pleading with President Obama to abandon his proposal to trim Social Security benefits before it becomes a liability for them in the midterm elections.
The president proposed a new formula for calculating benefits in his budget last year, in hopes that the olive branch to Republicans would persuade them to back tax increases in a broader fiscal deal.
But Democratic lawmakers say Obama should shelve the idea now that they are facing a difficult midterm election where they need to turn out the liberal base to preserve their Senate majority.
LINK
Democratic senators are pleading with President Obama to abandon his proposal to trim Social Security benefits before it becomes a liability for them in the midterm elections.
The president proposed a new formula for calculating benefits in his budget last year, in hopes that the olive branch to Republicans would persuade them to back tax increases in a broader fiscal deal.
But Democratic lawmakers say Obama should shelve the idea now that they are facing a difficult midterm election where they need to turn out the liberal base to preserve their Senate majority.
LINK
4
Posted on 1/11/14 at 11:41 am to Jbird
Of all places to cut, why Social Security? People pay social security taxes with an understanding (or hope) that those benefits will be there....that's a very unpopular place to cut for both sides. Seems like a huge political mistake.
This post was edited on 1/11/14 at 11:42 am
Posted on 1/11/14 at 11:42 am to dewster
quote:Obama's plan.
Seems like a huge political mistake.
Posted on 1/11/14 at 11:43 am to dewster
My guess would be that SS is older people who worked all their lives. That trends Republican. Obama does not propose cuts in welfare. Welfare recipients trend Democrat.
Posted on 1/11/14 at 11:43 am to dewster
quote:
Of all places to cut, why Social Security?
Because SS is currently unsustainable.
Posted on 1/11/14 at 11:46 am to dewster
quote:
Of all places to cut, why Social Security? People pay social security taxes with an understanding (or hope) that those benefits will be there....that's a very unpopular place to cut for both sides. Seems like a huge political mistake.
Probably because that system, like all entitlements, is broke.
Posted on 1/11/14 at 11:47 am to Jbird
quote:It's not a reduction in SS benefits. It's a decrease in the rate of increase based on a new inflation calculation formula.
Social Security cut
And the decrease in the rate of increase equates to a fraction of a percent, less than two tenths of a percent most years.
Posted on 1/11/14 at 11:52 am to LSURussian
quote:Well I hope the Dems have to run on it and explain it.
It's not a reduction in SS benefits. It's a decrease in the rate of increase based on a new inflation calculation formula.
And the decrease in the rate of increase equates to a fraction of a percent, less than two tenths of a percent most years.
Posted on 1/11/14 at 11:55 am to LSURussian
I am curious as to why me receiving benefits, money, that I have paid into for over 40 yrs, money directly out of my paychecks, is considered an "entitlement"? I have worked all my life, raised my family & put 2 kids through college, never needed foodstamps or welfare to do so, saved well enough for my retirement. I feel I have more than earned my benefits.
Posted on 1/11/14 at 11:55 am to Jbird
Lots of Dems moving on to the SS "Disability"rolls. 
Posted on 1/11/14 at 11:59 am to dewster
quote:You just described why such programs should not exist at all. Once created, sustainability ceases to drive decision making on them. The ONLY question from there forward it's what approach guarantees the most votes.
Of all places to cut, why Social Security? People pay social security taxes with an understanding (or hope) that those benefits will be there....that's a very unpopular place to cut for both sides. Seems like a huge political mistake.
Posted on 1/11/14 at 12:11 pm to Keltic Tiger
quote:
I am curious as to why me receiving benefits, money, that I have paid into for over 40 yrs, money directly out of my paychecks, is considered an "entitlement"?
Actually in this case you are more "entitled" to that money. Welfare is not an entitlement in the true sense of the word..because really they aren't entitled to shite. Welfare is a handout.
The flaw in Social Security is that they never changed the retirement age with longer life expectancy. It was based on the life expectancy when the program was implemented..it made it efficient because most people either died before receiving it or didn't receive it longer than 10 years before dying.
Now people receive benefits for 20+ years and take more than they paid in. IF we simply changed the retirement age to around 72 it would be a great deal more efficient.
Posted on 1/11/14 at 12:14 pm to deltaland
Or allow an opt out and forfeiture of already paid funds option
frick I'm 30 and would take that deal all day
frick I'm 30 and would take that deal all day
Posted on 1/11/14 at 12:22 pm to deltaland
quote:
The flaw in Social Security is that they never changed the retirement age with longer life expectancy. It was based on the life expectancy when the program was implemented..it made it efficient because most people either died before receiving it or didn't receive it longer than 10 years before dying.
Plus redefining "disability" in the 1980s has led to twice as many recipients of SS disability.
Posted on 1/11/14 at 12:41 pm to Antonio Moss
Just give me a check for the money I paid in plus whatever the appropriate interest should be.
Posted on 1/11/14 at 1:56 pm to Keltic Tiger
quote:
am curious as to why me receiving benefits, money, that I have paid into for over 40 yrs, money directly out of my paychecks, is considered an "entitlement"? I have worked all my life, raised my family & put 2 kids through college, never needed foodstamps or welfare to do so, saved well enough for my retirement. I feel I have more than earned my benefits.
Keltic, you are not the problem. It's the people receiving way more in benefits than they ever paid into the system. Disability also comes out of SS I believe, including the kid's being diagnosed with ADHD.
Posted on 1/11/14 at 2:05 pm to deltaland
quote:No, the flaw in SS is the fact that Congress spent surplus money in the SS fund in prior years and replaced it with IOU's. If they had left it alone, SS would be sound for the next 100 years.
The flaw in Social Security is that they never changed the retirement age with longer life expectancy
Posted on 1/11/14 at 2:07 pm to dante
quote:
Disability also comes out of SS I believe, including the kid's being diagnosed with ADHD.
I think autism is covered too. A disease that didn't exist when I was a kid.
Posted on 1/11/14 at 2:10 pm to deltaland
quote:Life expectancy when SS started was 62.....now it is 79.
The flaw in Social Security is that they never changed the retirement age with longer life expectancy. It was based on the life expectancy when the program was implemented..it made it efficient because most people either died before receiving it or didn't receive it longer than 10 years before dying.
Posted on 1/11/14 at 2:11 pm to LSURussian
quote:
It's a decrease in the rate of increase based on a new inflation calculation formula.
Correct. Did you know that SS increases have exceeded federal employee COLA for the past four years.
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