Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Senate Opposes ‘Chained CPI’ Cuts to Social Security, Veterans’ Benefits
Senate Opposes ‘Chained CPI’ Cuts to Social Security, Veterans’ Benefits
WASHINGTON, March 22 – The Senate tonight voted to block cuts in benefits for Social Security and disabled veterans.
The amendment by Sen. Bernie Sanders (I-Vt.) put the Senate on record against changing how cost-of-living increases are calculated in a way that would result in significant cuts.
“The time has come for the Senate to send a very loud and clear message to the American people: We will not balance the budget on the backs of disabled veterans who have lost their arms, their legs and their eyesight defending our country. We will not balance the budget on the backs of the men and women who have already sacrificed for us in Iraq and Afghanistan, nor on the widows who have lost their husbands in Iraq and Afghanistan defending our country,” Sanders said.
The amendment opposed switching from the current method of measuring inflation to a so-called chained consumer price index. President Barack Obama favors a chained CPI as part of what the White House calls a “grand bargain” that Obama hopes to reach with congressional Republicans.
The proposed change would affect more than 3.2 million disabled veterans receiving disability compensation benefits from the Department of Veterans Affairs. Veterans who started receiving VA disability benefits at age 30 would have their benefits reduced by $1,425 at age 45, $2,341 at age 55 and $3,231 at age 65. Benefits for more than 350,000 surviving spouses and children who have lost a loved one in battle also would be cut. Dependency Indemnity Compensation benefits already average less than $17,000 a year.
More than 55 million retirees, widows, orphans and disabled Americans receiving Social Security also would be affected by the switch to a chained CPI. That figure includes 9 million veterans with an average yearly benefit of about $15,500. A veteran with average earnings retiring at age 65 would get nearly a $600 benefit cut at age 75 and a $1,000 cut at age 85. By age 95, when Social Security benefits are probably needed the most, that veteran would face a cut of $1,400 – a reduction of 9.2 percent.
A chained CPI would cut Social Security benefits for average senior citizens who are 65 by more than $650 a year by the time they are 75 years old, and by more than $1,000 once they reach 85.
Groups supporting Sanders include AARP, the AFL-CIO, National Organization for Women, the American Legion, Veterans of Foreign Wars, Disabled American Veterans, AMVETS and others.
Sanders is chairman of the Senate Committee on Veterans’ Affairs and the founder of the Defending Social Security Caucus.
http://www.sanders.senate.gov/newsroom/news/?id=41f5d32d-b4bf-4f0e-9ceb-7df622262cac
WASHINGTON, March 22 – The Senate tonight voted to block cuts in benefits for Social Security and disabled veterans.
The amendment by Sen. Bernie Sanders (I-Vt.) put the Senate on record against changing how cost-of-living increases are calculated in a way that would result in significant cuts.
“The time has come for the Senate to send a very loud and clear message to the American people: We will not balance the budget on the backs of disabled veterans who have lost their arms, their legs and their eyesight defending our country. We will not balance the budget on the backs of the men and women who have already sacrificed for us in Iraq and Afghanistan, nor on the widows who have lost their husbands in Iraq and Afghanistan defending our country,” Sanders said.
The amendment opposed switching from the current method of measuring inflation to a so-called chained consumer price index. President Barack Obama favors a chained CPI as part of what the White House calls a “grand bargain” that Obama hopes to reach with congressional Republicans.
The proposed change would affect more than 3.2 million disabled veterans receiving disability compensation benefits from the Department of Veterans Affairs. Veterans who started receiving VA disability benefits at age 30 would have their benefits reduced by $1,425 at age 45, $2,341 at age 55 and $3,231 at age 65. Benefits for more than 350,000 surviving spouses and children who have lost a loved one in battle also would be cut. Dependency Indemnity Compensation benefits already average less than $17,000 a year.
More than 55 million retirees, widows, orphans and disabled Americans receiving Social Security also would be affected by the switch to a chained CPI. That figure includes 9 million veterans with an average yearly benefit of about $15,500. A veteran with average earnings retiring at age 65 would get nearly a $600 benefit cut at age 75 and a $1,000 cut at age 85. By age 95, when Social Security benefits are probably needed the most, that veteran would face a cut of $1,400 – a reduction of 9.2 percent.
A chained CPI would cut Social Security benefits for average senior citizens who are 65 by more than $650 a year by the time they are 75 years old, and by more than $1,000 once they reach 85.
Groups supporting Sanders include AARP, the AFL-CIO, National Organization for Women, the American Legion, Veterans of Foreign Wars, Disabled American Veterans, AMVETS and others.
Sanders is chairman of the Senate Committee on Veterans’ Affairs and the founder of the Defending Social Security Caucus.
http://www.sanders.senate.gov/newsroom/news/?id=41f5d32d-b4bf-4f0e-9ceb-7df622262cac
There was no doubt that this had no chance of passing the Senate.
White House Praises Senate Budget
White House Press Secretary Jay Carney lauded the Senate for passing a budget early Saturday, its first in four years, which he said "will create jobs and cut the deficit in a balanced way." He also criticized the House for passing a budget that eliminates the deficit over the next ten years entirely through cuts, saying that "We will continue to insist that any solution has balance."
The full statement below:
http://livewire.talkingpointsmemo.com/entry/white-house-praises-senate-budget
White House Press Secretary Jay Carney lauded the Senate for passing a budget early Saturday, its first in four years, which he said "will create jobs and cut the deficit in a balanced way." He also criticized the House for passing a budget that eliminates the deficit over the next ten years entirely through cuts, saying that "We will continue to insist that any solution has balance."
The full statement below:
Today, the Senate passed a budget plan that will create jobs and cut the deficit in a balanced way. Like the President's plan, the Senate budget cuts wasteful spending, makes tough choices to strengthen entitlements, and eliminates special tax breaks and loopholes for the wealthiest Americans to reduce the deficit.
The President and Democrats in Congress are willing to make difficult choices so we can cut the deficit while laying the foundation for long term middle class job growth. And it is encouraging that both the Senate and House have made progress by passing budgets through regular order. We will continue to insist that any solution has balance. The House Republican budget refuses to ask for a single dime of deficit reduction from closing tax loopholes for the wealthy and the well-connected but instead makes deep cuts to education and manufacturing while asking seniors and the middle class to pay more. That's not an approach we support and it's not an approach the majority of the American people support.
Now it is time for our leaders to come together to find common ground. The President has put a plan on the table that reflects compromise, and he will continue to work with both sides to see if there is an opportunity to reach a solution to our budget challenges. We hope we will find this compromise because that is what the American people expect and what they deserve.
http://livewire.talkingpointsmemo.com/entry/white-house-praises-senate-budget
8 replies
= new reply since forum marked as read
= new reply since forum marked as read
