HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Good Reads (Forum) » Sanders: Proposed Social ...
Introducing Discussionist: A new forum by the creators of DU

Tue Oct 16, 2012, 07:43 PM

Sanders: Proposed Social Security Cuts 'Morally Grotesque' Cuts to hit oldest, poorest beneficiaries


- Common Dreams staff
US Senator Bernie Sanders said Tuesday that a "draconian" proposal to chain the cost-of-living increase to the Consumer Price Index is "not only morally grotesque, it is extremely bad economics."


Former Sen. Alan Simpson, R-Wyo., and Erskine Bowles. (Photo: Mark Wilson/Getty Images.)
The Social Security Administration on Tuesday announced a 1.7 percent cost-of-living adjustment (COLA) next year, one of the lowest since the automatic annual adjustments were adopted in 1975.

But benefits for senior citizens and disabled veterans would be reduced under a proposal by former GOP Sen. Alan Simpson of Wyoming and investment banker and former White House chief of staff Erskine Bowles.

The Simpson-Bowles Plan would chain the COLA to the Department of Labor's CPI. That would reduce Social Security checks by 3 percent over 10 years and 9 percent over 30 years—even as the cost of living for the elderly may actually increase, said Dean Baker, co-director of the Center of Economic and Policy Research.

http://www.commondreams.org/headline/2012/10/16-8

2 replies, 730 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 2 replies Author Time Post
Reply Sanders: Proposed Social Security Cuts 'Morally Grotesque' Cuts to hit oldest, poorest beneficiaries (Original post)
midnight Oct 2012 OP
Doctor_J Oct 2012 #1
kooljerk666 Oct 2012 #2

Response to midnight (Original post)

Tue Oct 16, 2012, 08:21 PM

1. One thing we have to thank Lyin Ryan for

he sunk this steaming turd before the president could attach himself to it. For the wrong reasons, of course, but it turned out OK

Reply to this post

Back to top Alert abuse Link here Permalink


Response to midnight (Original post)

Tue Oct 16, 2012, 08:32 PM

2. i asked my Sen Casey about this...

 

...and his stand. Mine was I would for for the teabagger & bet the seniors to go to war, before I would be fucked by him.

I want all the above programs linked to pay for sen/house. If we can pay them out of taxes, we can be paid from what we put in.

Debate stress has me sick........8:32 and counting

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread