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Tue Nov 27, 2012, 03:19 PM

Dick Durbin: Social Security Should Be Off The Fiscal Cliff Table

Social Security does not contribute to the federal deficit and should not be a part of ongoing negotiations to avoid the so-called fiscal cliff, Senate Majority Whip Dick Durbin (D-Ill.) said Tuesday, in a speech billed as a "major address making the progressive case for a bipartisan fiscal cliff deal."

Durbin's line in the sand on Social Security reflects an increasingly aggressive effort by Democrats to block changes to the program.


http://www.huffingtonpost.com/2012/11/27/dick-durbin-social-security-fiscal-cliff_n_2199224.html

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Reply Dick Durbin: Social Security Should Be Off The Fiscal Cliff Table (Original post)
UCmeNdc Nov 2012 OP
midnight Nov 2012 #1
customerserviceguy Nov 2012 #2
UCmeNdc Nov 2012 #3
sabrina 1 Nov 2012 #4

Response to UCmeNdc (Original post)

Tue Nov 27, 2012, 03:36 PM

1. I'm not sure why this is not apparent to everyone.... Thanks for reminding us....

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Response to UCmeNdc (Original post)

Tue Nov 27, 2012, 03:38 PM

2. How about the money appropriated

to reimburse the Social Security System for lost revenues during the two year tax holiday? Where did that come from?

If we ever get an economic recovery worthy of being called one, interest rates will rise, and the amount of interest that the Federal government has to pay for the trust fund specialized securities will also go up.

It's not as simple as it looks.

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Response to customerserviceguy (Reply #2)

Tue Nov 27, 2012, 04:07 PM

3. Dem Senator Introduces Bill To Lift Social Security’s Tax Cap, Extend Its Solvency For Decades

This week,however, Sen. Mark Begich (D-AK) put forward a reform package that goes in the opposite direction, while still financially securing the program’s trust fund for roughly the next seven decades. The Washington Post’s Dylan Matthews laid out the details:

The Begich bill would lift the current payroll tax cap, which exempts wages in excess of a certain amount ($110,100 this year) from the tax. In turn, it would give high earners, who would pay more, additional benefits upon retirement, just as benefits increase as wages do for workers below the cap.

It also increases benefits across-the-board. While Bowles-Simpson and Domenici-Rivlin adopt a stingier “chained CPI” measure for inflation, Begich adopts “CPI-E,” or a measure that specifically captures inflation in goods that seniors buy.

Due to deteriorated health and other considerations, goods seniors buy tend to be more expensive than those younger people purchase. Begich’s CPI-E change would mean, effectively, a 4.5 percent benefit increase for the program’s beneficiaries, including not just seniors but their designated survivors and disabled Americans as well.

http://www.democraticunderground.com/10021871773

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Response to UCmeNdc (Original post)

Tue Nov 27, 2012, 04:35 PM

4. Good, that makes one more Democrat telling the truth about the connection between SS and the Deficit

There is none. I see the media allowing Republicans to tell the lies they tell about SS without even questioning them. But if Dems unite in slapping down those lies, the media will be forced to at least ask Republicans to explain their lies in the future.

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