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As an Aug. 2 deadline nears for raising the nation's debt limit, some in Congress continue to press for steep cuts in programs for working families. Social Security, Medicare and Medicaid remain in jeopardy.
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NewsVine CoH #1
What's At Stake
Seeded on Mon Jul 25, 2011 5:26 PM EDT
Article Source: sanders.senate.gov- Enjoy this article? Help vote it up the 'Vine.
- Public Discussion (1)
SOCIAL SECURITY: Revising the formula which determines cost-of-living adjustments. The average Social Security recipient who retires at age 65 would get $560 less a year at age 75. The same retiree would get $1,000 less a year at age 85 than under current law. Further, another provision which would require that Social Security always be solvent for 75 years would likely mean even larger cuts in benefits. All of this would take place despite the fact that Social Security has not contributed one penny to the deficit and has a $2.6 trillion surplus today. This new formula would also cut back on the pensions of veterans.
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