Social Security News 8-23-12

SSW/SSSC mention ***

Washington Hispanic (DC)

Seguro Social celebra 77 años de creación

Mitzi Macias

8-23-12

Alex Lawson, director ejecutivo de Social Security Works saluda a María Calderón durante la celebración por el aniversario del Seguro Social en Prince George's.

http://www.washingtonhispanic.com/nota12412.html

 

Business Week (NAT)

Ryan Health Care Plan Gives Seniors Less Than Congress

Brian Faler

8-23-12

Paul Ryan has likened his Medicare overhaul to the health-care coverage available to members of Congress. It differs in one main respect: It’s less generous.

Republican vice presidential candidate Ryan’s plan to revamp the health-care program for the elderly wouldn’t have the safeguards against rising costs included in the coverage that lawmakers and other federal workers receive. Those differences, which help explain the savings claimed in Ryan’s budget, are sparking complaints that Republicans want to impose a plan on the elderly that’s inferior to their own. Ryan, a Wisconsin lawmaker, is chairman of the House Budget Committee. “Their proposal would give seniors on Medicare a much worse deal than members of Congress have,” said Representative Chris Van Hollen of Maryland, the top Democrat on the Budget Committee.

http://www.businessweek.com/news/2012-08-23/ryan-plan-for-health-care-doesn-t-give-constituents-what-he-gets

 

NBC News (NAT)

Biden bemoans GOP Medicare plan in recession-ravaged Michigan

Carrie Dann

8-23-12

"It was still a struggle to take care of all my mom's bills," he told a crowd of over a thousand at Renaissance High School. "We were able to do it, no complaint, it was an honor. But you know what it did, we had to lie to my mom and tell her, 'No honey, this is all covered by your Medicare, this is all covered by the sale of your home,' which it wasn't."

"Because do you know any parent who wants to be a burden for their children?" he added, arguing that the "voucherization" of Medicare proposed under the Ryan budget would further hurt the elderly's abilities to cover their own expenses.

http://firstread.nbcnews.com/_news/2012/08/22/13419282-biden-bemoans-gop-medicare-plan-in-recession-ravaged-michigan?lite

 

Bloomfield Life (NJ)

Bloomfield opinion: Social Security privatization is bad idea

Jane Califf

8-23-12

One of the families was that of Paul Ryan, Mitt Romney’s running mate, whose father died when he was a teenager. His family received Social Security survivor benefits, which enabled them to continue intact and for him to put away money for college.

Given this information, it is ironic that Congressman Ryan and other officials are proposing changes to Social Security which would allow the privatizing of this benefits program. Contributions from workers’ paychecks matched by their employers – which have not contributed to the deficit – would be put into Wall Street companies, subjecting them to the risky investments that led to the financial collapse in 2008 and the suffering of millions of families across America.

http://www.northjersey.com/news/opinions/167143595_Bloomfield_opinion__Social_Security_privatization_is_bad_idea.html

 

Michigan Live (MI)

Vice President Joe Biden appears alongside Olympic gold medalist Claressa Shields in Detroit

Khalil AlHajal

8-22-12

Denise Ford waited in line outside Renaissance High School for three hours to see Vice President Joe Biden speak today in Detroit. She said she hopes to hear Biden reassure her about the future of Medicare and Social Security.

"I receive Medicare and Social Security (benefits) and that's so important," said Ford, 59, who suffers from Lupus and heart disease.

"I take 500 pills a month. I don't know what I would do without it. I started receiving it three years ago. For years, all I did was run to the emergency room. I was that person they would talk about who didn't have health insurance."

http://www.mlive.com/news/detroit/index.ssf/2012/08/vice_president_joe_biden_appea.html

 

InForum (ND)

Letter: Social Security matters

Pam Gulleson

8-22-12

Every worker should be encouraged to contribute to personal savings and participate in retirement plans at work, which is just smart planning. But following the recent collapse of the stock market and its negative impact on retirement plans, I am more convinced than ever that privatization of Social Security is simply not the answer. These benefits, earned from a life of hard work, need to be protected from the high risk of market swings.

http://www.inforum.com/event/article/id/371825/group/Opinion/

 

Politico (DC)

Nadler: Simpson-Bowles is fair game for debate

Tomer Ovadia

8-22-12

Rep. Jerrold Nadler said Wednesday that he supports President Barack Obama and Mitt Romney being asked about the Simpson-Bowles plan during the presidential debates.“The presidential debate people would be perfectly right if they wanted to ask, ‘Do you agree with this recommendation of the commission?’” the New York Democrat said on Fox News.Nadler said, however, that he doesn’t believe the Simpson-Bowles debt and deficit reduction plan should be the focus of any presidential faceoff. “It would cheapen the debate to focus only on one set of proposals,” Nadler said

http://www.politico.com/news/stories/0812/80019.html?hp=r9

 

Wall Street Journal (NAT)

Austan Goolsbee: Mitt Romney's Tax Plan and the Middle Class

8-23-12

Add in Mr. Romney's promises to raise defense spending by more than $2 trillion, to cap total spending at 20% of gross domestic product, and to amend the Constitution to require a balanced budget—and there is no way to even remotely do that without crushing Social Security and Medicare. This is the opposite of what the commission chaired by Republican Alan Simpson and Democrat Erskine Bowles had in mind.

http://online.wsj.com/article/SB10000872396390443324404577595440116857330.html?mod=googlenews_wsj

 

Forbes (NAT)

Is Disability the New Unemployment Insurance?

Adam Hartung

8-22-12

“Working conditions in the United States are getting downright dangerous if the Social Security disability statistics are any indication.  The number of Americans collecting disability is rising at an unprecedented and alarming rate.  This belies Bureau of Labor Statistics data that tells the story of workplace safety that is constantly improving.  Everyone knows that injury incidence rates have been in secular decline since, well, always.

http://www.forbes.com/sites/adamhartung/2012/08/22/is-disability-the-new-unemployment-insurance/

 

The Sacramento Bee (CA)

Saving for retirement at 22?

Claudia buck

8-22-12

I have a question about a 22-year-old recent college graduate who was fortunate to secure a job before graduation. Can you suggest a retirement investment? With the long investment horizon, I assume a Roth IRA would be best? Is there a particular product that allows monthly investments of $50 - $100 and has low fees? Do you have an opinion on ING Direct IRAs? Thank you! MommaC - Roseville, CA

A: Building great saving habits early in the work career is a solid way to reduce your reliance on market performance and timing. Generally speaking, a 22 year old would benefit the most from utilizing a standard IRA rather than a Roth IRA. With the typical 22 year old, tax deductions are few and far between. With a traditional IRA, contributions are often tax-deductible, all transactions and earnings within the IRA have no tax impact, and withdrawals at retirement are taxed as income (except for those portions of the withdrawal corresponding to contributions that were not deducted.) A Roth IRA however, is funded with post tax dollars and qualified withdrawals aren't taxed. Essentially a Roth IRA allows you to hedge your tax exposure during retirement.

http://blogs.sacbee.com/personal-finance-ask-the-experts/2012/08/saving-for-retirement-at-22.html

 

 

Politics

 

New York Times (NAT)

In Poll, Obama Is Given Trust Over Medicare

Michael Cooper and Dalia Sussman

8-23-12

“On Medicare, I don’t like the Paul Ryan plan,” said Beverly McLaren, 72, an independent from St. Petersburg, Fla., who said in a follow-up interview that Medicare worked well for her and that she planned to vote to re-elect Mr. Obama. “I can’t see how it will help at all, and we’ll have more out-of-pocket expenses, and I’m not really clear how it will work.”

About 60 percent of independent voters in the three states support keeping Medicare as it is today, as do at least 8 in 10 Democrats. Republicans are closely divided on the issue in Florida and Ohio, but in Wisconsin, Mr. Ryan’s home state, a majority of Republicans support changing it along the lines he has proposed.

http://www.nytimes.com/2012/08/23/us/politics/polls-say-medicare-is-key-issue-in-3-swing-states.html

 

Huffington Post (NAT)

Paul Ryan's Budget Would Lower Taxes For Wealthy, Raise Them For Everyone Else: Report

Staff

8-23-12

Under the Wisconsin congressman's plan, the bottom 80 percent of American earners would have paid about $1,700 more in taxes on average than under President Obama’s plan, according to an analysis by the progressive Center for Tax Justice. Despite the boost, the government would have lost out on $183 billion in revenue 2011 and at least $2 trillion over a decade, thanks in part to tax cuts for the top 20 percent.

It seems that the only Americans getting a tax break under Ryan’s plan are the super-rich. Those in the top 1 percent in terms of income would receive a more than $200,000 tax cut, compared to Obama’s budget proposals, according to the Center for Tax Justice analysis.

http://www.huffingtonpost.com/2012/08/22/paul-ryan-budget-taxes_n_1823020.html

 

The Atlantic (NAT)

Video of the Day: 'Forcible Rape' and Paul Ryan's Akin Problem

David Graham

8-22-12

Todd Akin's comments about "legitimate rape" leading to women's bodies to "shut down" and block conception were problematic for two reasons. The one that's received Akin's pseudoscience. There's simply no scientific evidence to suggest that rape is significantly less likely to lead to pregnancy than consensual sex. That's an embarrassing theory that's also been touted by others in the GOP -- including Mitt Romney's 2007 surrogate, Dr. John Willke, a leading proponent of the idea.

But the other problem, clearly, was the whole idea of a "legitimate rape," and not just because of the squirm-inducing phrasing. What Akin was trying to do was differentiate between "forcible rape" and other categories of rape -- such as statutory (child or teen) rape -- which many anti-abortion activists argue don't deserve to be included in the rape exceptions to abortion bans. That's where things get dicey for many Republicans, who are at odds with public opinion. Keep that in mind while watching this video of Paul Ryan being interviewed by KDKA, a local CBS affiliate in Pittsburgh:

http://www.theatlantic.com/politics/archive/2012/08/video-of-the-day-forcible-rape-and-paul-ryans-akin-problem/261460/

 

Observer & Eccentric (MI)

Congress gets $174K salary, vested pension after five years and $900K for staff

Ken Abramczyk

8-23-12

Congressional members who participated in the congressional pension system are vested after five years of service, according to the Congressional Research Service.

A full pension is available to members 62 years of age with five years of service; 50 years or older with 20 years of service; or 25 years of service at any age.

A reduced pension is available depending upon which of several age and service options is chosen. If members leave Congress before reaching retirement age, they may leave their contributions behind and receive a deferred pension later.

The current pension program, effective January 1987, is under the Federal Employees Retirement System, which covers members and other federal employees whose federal employment began in 1984 or later. This replaces the older Civil Service Retirement System for most members of Congress and federal employees.

http://www.hometownlife.com/article/20120823/NEWS19/208230361

 

Slate (NAT)

Poll: Voters Thinking Hard About Medicare, Scared of Vouchers

David Weigel

8-23-12

It's so hard to get a solid poll on opinion of the "Ryan plan." People generically like the idea of a reform that doesn't touch their Medicare, and they generally like Ryan, so he's been able to pretend his plan is painless for "current retirees." But Democrats still hold that advantage on the details. And this is even more interesting:

http://www.slate.com/blogs/weigel/2012/08/23/poll_voters_thinking_hard_about_medicare_scared_of_vouchers.html

 

Wall Street Journal (NAT)

Coburn: The Truth About Ryan and His Critics

8-23-12

Mr. Ryan's public explanation for voting against Bowles-Simpson was the same one he told commission members at the time. A central objection was that by taking ObamaCare "off the table," the commission put what everyone knew to be a fiscally flawed program off-limits. He was also troubled that the commission would not embrace structural entitlement reform.

As Mr. Ryan explained on "Meet the Press" on May 20: "Bowles-Simpson says reduce tax rates across the board by closing special-interest loopholes, which is what we say. The reason people like me didn't support Bowles-Simpson, because it ignored health-care entitlements, the driver of our debt, and therefore we put up our alternatives. . . . That's how you get the compromise. . . .

http://online.wsj.com/article/SB10000872396390444443504577599120307000312.html?mod=googlenews_wsj

 

The Hill (DC)

Team Obama breaks precedent to try to spoil Romney’s convention

Mike Lillis

8-23-12

Presidential candidates have traditionally kept a low profile during their opponent's nominating celebration, but Democrats are throwing those rules out the window in an attempt to spoil Mitt Romney’s coronation as the GOP nominee.

President Obama, Vice President Biden and leading congressional Democrats have all scheduled high-profile events next week to counter-program the Republican gathering in Tampa, Fla.

Even first lady Michelle Obama is in on the act, scheduling an appearance on the “David Letterman Show” smack in the middle of Romney's nominating bash.

http://thehill.com/homenews/campaign/244861-team-obama-tries-to-spoil-romneys-convention

 

The Hill (DC)

Clinton comes to Obama's aid in new ad

Amie Parnes

8-23-12

The Obama campaign is using former President Bill Clinton to help sell their message that President Obama's policies will continue to build a "strong" middle class.

Clinton appears in Team Obama's latest ad released on Thursday, telling voters that "the election, to me, is about which candidate is more likely to return us to full employment.

http://thehill.com/video/campaign/244881-clinton-comes-to-obamas-aid-in-new-campaign-ad