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Fire Dog Lake (Blog)
Progressive Groups Oppose Potential Social Security Benefit Cut From Move to Chained CPI
Strengthen Social Security has previously estimated that moving to chained CPI would represent a cut in benefits for an 85 year-old who started on Social Security at 65 by $984 a year. By age 95, that expands to a cut of $1,392.
Incidentally, chained CPI would not only cut Social Security benefits, but any benefit that relies on a cost of living adjustment, like food stamps. Because of how tax brackets are derived, it also represents a regressive tax increase. Now is the time to rally against these proposed benefit changes, when the Obama campaign is on the ropes and needs enthusiasm from the base. I’m not particularly optimistic, but we’ll see if this leads to any change in the baseline pledges on social insurance programs from the Democratic candidate in tonight’s debate.
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America Blog (Blog)
Social Security COLA announced; Safety net shrinks; What you can do
Do click to read that letter (pdf). It’s excellent. Note that “chained CPI” reduces benefits for all recipients, not just future ones. Not outrageous enough? How about a taste of what Our Betters think of this proposal, a sample of the kind of sacrifices this means for us Littles. HuffPost writers explain chained CPI in terms of turkey and chicken, things real people buy. Here’s the same explanation from one of the out-of-touch geniuses who run this joint (Our Betters). Notice what examples come to his mind:
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Huffington Post (NAT)
Social Security Advocates To Congress: Don't Cut Cost Of Living Adjustments
Arthur Delaney & Ryan Grim
"The cuts that Social Security beneficiaries and others would face as a result of implementing the chained CPI may seem to some like a relatively small sacrifice, but the cuts quickly snowball as they compound, growing deeper every year," the advocacy groups, led by Washington-based Strengthen Social Security, said in their letter to congressional leaders…
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Huffington Post Live (NAT)
Social Security Lies
Hosted by: Alyona Minkovski
Social Security may need tweaking, but it is not going broke. Yet even Martha Raddatz made the claim during the VP debate. Let's cut through the lies and talk reform. GUESTS: Michael Warren (Washington, DC) Reporter at The Weekly Standard, George Zornick (Tampa Bay) Washington Reporter, Michael Lighty (Oakland, CA) Policy Director at California Nurses Association, Daniel Marans (Washington, DC) Policy Director, Social Security Works
ABC News (NAT)
In VP Debate, Biden Seemed to Overstate His Role in Social Security Reform
During the vice presidential debate last week, Vice President Joe Biden seemed to significantly overstate his role in the 1983 negotiations over Social Security.
Asked about Medicare reform, the vice president said, “Look, I was there when we did that with Social Security in 1983. I was one of eight people sitting in the room that included Tip O’Neill negotiating with President Reagan. We all got together and everybody said, as long as everybody’s in the deal, everybody’s in the deal, and everybody is making some sacrifice, we can find a way.”
Associated Press (NAT)
Social Security benefits to rise about $19 per month
WASHINGTON — More than 56 million Americans on Social Security will get raises averaging $19 a month come January, one of the smallest hikes since automatic adjustments for inflation were adopted in 1975, the government announced Tuesday. Much of the 1.7 percent increase in benefits could get wiped out by higher Medicare premiums, which are deducted from Social Security payments. At the same time, about 10 million working people who make more than $110,100 will be hit with a tax increase next year because more of their wages will be subjected to Social Security taxes. The cost-of-living adjustment, or COLA, on payments is tied to a government measure of inflation released Tuesday. It confirms that inflation has been relatively low over the past year, despite the recent surge in gasoline prices.
Huffington Post (NAT)
Fact Of The Day #80: Gender Inequality In Social Security Benefits (INFOGRAPHIC)
The average female retiree on Social Security gets a monthly benefit $300 smaller than the average male retiree. Because retirement benefits are tied to average lifetime earnings, and women have tended to earn less than men, the average monthly Social Security retirement benefit is $1,023 for women, $1,323 for men. The difference -- $300 - is about what the average American household spends on groceries per month.
Women accounted for 56 percent of Social Security beneficiaries in 2010.
Houston Chronicle (TX)
No way' increase in Social Security is enough
It's better than nothing, but the 1.7 percent cost-of-living adjustment Social Security recipients will receive next year won't cover rising expenses for gasoline, groceries and other basics of living, conversations with several senior citizens show. "I think it's pretty ratty," Mary Sikes, a retiree in Alvin, said Tuesday in reaction to the news. "It's not covering the jump in the rise of utilities or insurance. No way. No way. No. No. No." Sikes, 73, said the cost-of-living increase is too low, especially for seniors like her who are also stung by the low interest rates banks are paying for certificates of deposit.
Charleston Gazette (WV)
W.Va. officials say Social Security increase not enough
CHARLESTON, W.Va. -- After the Social Security Administration announced recipients will receive a 1.7 percent increase in their benefits next year, the state director of AARP said the way the cost-of-living adjustment is determined needs to be re-evaluated. "We think even this modest increase is going to help," said Gaylene Miller. "But much of it is going to be consumed by health care and prescription costs." Those costs aren't considered when determining the cost-of-living increase for Social Security, according to Miller.
Milwaukee-Wisconsin Journal Sentinel (WI)
Town Hall to discuss Social Security and Medicare for seniors
Experts from AARP and the National Council of La Raza will discuss the concerns of Latino seniors about Social Security and Medicare Thursday at 10 a.m. at the Council for the Spanish Speaking Hillview Building, 1615 S. 22nd St. The town hall is free and open to the public. At the meeting Leticia Miranda, senior policy adviser for the NCLR, and Lisa Lamkins, AARP Wisconsin's federal issues advocacy director, will discuss the importance of both federal programs to Latinos. They will also outline how the presidential candidates' proposals could change the programs.
CBS News (NAT)
Romney ad says Medicare, Social Security "at risk" under Obama
Using a clip of Mitt Romney's remarks during Tuesday night's presidential debate, a new Romney campaign ad argues that President Obama's policies have failed, specifically charging that Medicare and Social Security are "at risk" under Mr. Obama's leadership. "His policies haven't worked," Romney said during the debate. "Median income is down $4,300 a family and 23 million Americans out of work... He said that he'd cut in half the deficit... He just hasn't been able...to put in place reforms for Medicare and Social Security to preserve them...That's what this election is about." Between clips of Romney speaking, text in the ad reads, "Under President Obama: Medicare And Social Security At Risk."
New York Times (NAT)
Rivals Bring Bare Fists to Rematch
Jim Rutenberg and Jeff Zeleny
“When he said behind closed doors that 47 percent of the country considers themselves victims who refuse personal responsibility — think about who he was talking about,” the president said toward the end of the debate at Hofstra University in Hempstead, N.Y.
Presidential debate: Obama snaps back hard
No matter. What matters is that in the second of three presidential debates, Obama was the performer his supporters were hoping for: the Obama of four years ago, a person hungry for the job and not ground down by it. And Romney helped him out Tuesday night. If one believes the polls, Romney’s big gains have come from his improving image with women. But at Hofstra, Romney tried to steamroller the moderator, CNN’s Candy Crowley, just as he had steamrollered PBS’ Jim Lehrer in Denver.