General Discussion
In reply to the discussion: "I live on $710.00 a month, what exactly am I supposed to cut?" [View all]BlueCaliDem
(15,438 posts)The President's proposal will create a minimum baseline for Social Security benefits so that no one who works their whole life has to live in poverty in retirement. The minimum benefit will be above the poverty line, for the first time in the history of Social Security. It will fulfill the promise that Social Security will end elderly poverty and it will actually boost benefits for the lowest wage workers, which the protectors of the Entitlement Status Quo are effectively against. The president's proposal would also boost benefits at age eighty-five, ensuring that the people who are most at risk of running out of their savings are taken care of.
It's worth repeating: for the people who are in greatest need of Social Security, President Obama's proposal will increase not decrease benefits. So that person in the OP's article will benefit from this new formula.
What will President Obama get back for this? Higher revenue and the closing of tax loopholes for the rich that's draining our coffers at alarming speed. President Obama is showing he's willing to give the Republicans what they've always wanted, only, not in the way they want it. They've been whining about there being too much spending, spending, spending on "entitlements" and we need to "cut spending" (which, as we all know means that they want to do away with the social safety net altogether), so President Obama is doing as they asked while not hurting the most vulnerable in our society at the same time he's demanding more revenue from the wealthier Americans.
When it comes to Medicare "cuts" - which are actually savings - President Obama is focusing on those savings from providers and drug companies, as well as having wealthy seniors pay a higher premium {think McCain}. There shouldn't be anything controversial about that - at least, not among the Left. Not unless the Left suddenly moved into the tent of lining the pockets of big pharma and giving "relief" to the wealthy seniors.