Fiscal Commission Meets Again, Considers Medicare, Social Security Cuts > http://www.strengthensocialsecurity.org/. < Did You Know…
A new survey sponsored by the National Council on Aging (NCOA) found that only 24% knew that the new health law will extend the solvency of Medicare, and only 14% were aware that the reforms are projected to cut deficit spending. To print a copy of this document, go to > http://bit.ly/aISZwC.
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A new survey sponsored by the National Council on Aging (NCOA) found that only 24% knew that the new health law will extend the solvency of Medicare, and only 14% were aware that the reforms are projected to cut deficit spending. To print a copy of this document, go to > http://bit.ly/aISZwC.
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The Wednesday, July 28th meeting of the President's Fiscal Commission, which is charged with fixing the federal budget deficit, featured testimony from Maya MacGuineas, President of the Committee for a Responsible Federal Budget, a conservative organization funded by the right-wing Pete Peterson Foundation. MacGuineas mentioned raising the retirement age as a viable option to help generate savings. Sen. Max Baucus (D-MT) made the point that the debate must shift away from spending cuts and start to focus more on revenue raising options, saying that capping mandatory spending on entitlement programs such as Social Security will undoubtedly generate minimal savings at the expense of deserving beneficiaries. For an Alliance summary of the happenings at Wednesday's meeting, go to http://bit.ly/c2tIIb.
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Speaker Nancy Pelosi (D-CA), House Democratic Leaders, and House Democrats held a press event on Wednesday on the steps of the U.S. Capitol to commemorate the 75th anniversary of the Social Security Act, which President Franklin D. Roosevelt signed into law on August 14, 1935. At the event, the Speaker blasted Republicans for trying to privatize Social Security, saying the change would have resulted in the trust fund incurring a massive loss due to the downturn in the stock market. Last Saturday in Las Vegas, at the "Netroots Nation" convention, the Speaker said that she is opposed to raising the retirement age. House Minority Leader John Boehner (R-OH) has said that he favors raising the Social Security retirement age to 70. On Thursday, more than 60 groups, including the Alliance, announced the creation of the coalition "Strengthen Social Security…Don't Cut It." The new group is launching a major mobilization to push back against Fiscal Commission assertions, backed by the Wall Street spin machine, that claim Social Security is a major component of the budget deficit and is teetering on the brink of disaster. In a press conference at the National Press Club in Washington, D.C., the group outlined plans to build support in Congress to fight benefits cuts and press candidates this election to push back against any move to raise the retirement age or privatize the program. "We are united by our concerns over the new Fiscal Commission, which operates in virtual secrecy and with a fundamentally flawed understanding of how Social Security is financed and operates. There is no government financial commitment at all. Every dime comes from workers and employers," The new group's web site is http://www.strengthensocialsecurity.org/. For more information, go to the AFL-CIO blog at http://bit.ly/bk160P. For photos of the press conference, go to http://bit.ly/dixNaW. For a new Alliance document on Social Security Disability Insurance, visit http://bit.ly/bMs5Eu.
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