Social Security

'Dead Wrong': Progressive Senators Confront Obama on Budget

'Dead Wrong': Progressive Senators Confront Obama on Budget
Though the 'deficit scold dream' of a so-called 'Grand Bargain' may be diminished on Capitol Hill, a mini-version—circulating among some as the 'Small Deal' version of a 2014 austerity budget—is still on the table as congressional budget negotiations are set to resume Wednesday.
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Sen Sanders: 'We Must End the Absurdity' of Corporate Tax Dodging, While Imposing Austerity on Working Class

Sen Sanders: 'We Must End the Absurdity' of Corporate Tax Dodging, While Imposing Austerity on Working Class
Senator Bernie Sanders, I-Vt, calls out the so-called congressional "deficit hawks" for supporting unfunded wars and now cuts to "virtually every social program designed to protect working families, the elderly, the children, the sick and the poor." His proposal? A budget that is both economically and morally sound.
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How the Shutdown Showdown Prepared Dems for Upcoming Battles Over Safety Nets

How the Shutdown Showdown Prepared Dems for Upcoming Battles Over Safety Nets
The Ted Cruz Republicans made a horrible mess of everything, and the country and the economy are far worse for the experience, but there is one clear victor out of all this — the Democrats. With upcoming battles over Social Security, Medicare and Medicaid on the horizon, Dems need to remember the lessons learned in the shutdown debacle.
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Mike Lux
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Republican Crazy Talk About the Debt Ceiling and How Obama Can Save the Economy

Republican Crazy Talk About the Debt Ceiling and How Obama Can Save the Economy
While the Treasury Department could prioritize interest payments after October 17 — the day the Treasury Department says it no longer has legal authority to pay the nation’s debts — and not pay Social Security and Medicare, this would buy a few days at most. Meanwhile, interest rates will soar, stock prices will plummet, the global economy will begin spiraling downward, and millions of Americans wouldn’t receive their Social Security and Medicare.
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Robert Reich
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US Faces Multi-Trillion Dollar Retirement Deficit, Median Savings Account Holds Just $3,000

US Faces Multi-Trillion Dollar Retirement Deficit, Median Savings Account Holds Just $3,000
A new report from the National Institute on Retirement Security concludes that the United States faces a staggering retirement savings deficit. America’s families are between $6.8 trillion and $14 trillion short of recommended retirement savings targets, it says, according to financial services firms.
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Kenneth Quinnell
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GOP Still Basing Economic Policy Decisions on Spreadsheet Error

GOP Still Basing Economic Policy Decisions on Spreadsheet Error
At this point everyone who follows economic policy debates knows about the famous Reinhart-Rogoff spreadsheet error uncovered by a University of Massachusetts graduate student. When the error is corrected, there is nothing resembling the growth falloff cliff associated with a 90 percent debt-to-GDP ratio that had been the main takeaway from the initial paper.
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Democrats Should Expand — Not Cut — Social Security Benefits

Democrats Should Expand — Not Cut — Social Security Benefits
Progressive Change Campaign Committee co-founder Adam Green was on MSNBC’s The Ed Show yesterday, explaining how Democrats shouldn’t embrace politically disastrous cuts to Social Security benefits and instead should follow the lead of Sens. Tom Harkin (D-IA) Mark Begich (D-AK) and talk about expanding benefits.
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National Review Writer Says Medicare Doesn’t Do Any Good and Should ‘Go Broke’

National Review Writer Says Medicare Doesn’t Do Any Good and Should ‘Go Broke’
National Review Online writer Kevin Williamson was on MSNBC today and claimed that Medicare and Social Security benefits are not important for seniors and that it would be best if they went “broke."
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Obama’s Social Security Benefit Cuts Would Disproportionately Harm African Americans

Obama’s Social Security Benefit Cuts Would Disproportionately Harm African Americans
The think tank Global Policy Solutions released a report that should cast further doubt on chained CPI. It finds that, if enacted, chained CPI “will disproportionately harm African Americans who have dramatically fewer sources of wealth to draw upon compared to whites.”
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Reagan: 'Social Security Has Nothing To Do With the Deficit'

Reagan: 'Social Security Has Nothing To Do With the Deficit'
“Social Security has nothing to do with the deficit. Social Security is totally funded by the payroll tax levied on employers and employees," Reagan said during the 1984 Presidential Debate. "If you reduce the outgo of Social Security, that money would not go into the General Fund to reduce the deficit, that would go into the Social Security Trust Fund."
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