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View Diary: LIVEBLOG: Progressive statements opposing Social Security benefit cuts (204 comments)

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  •  What are you all going on about? (1+ / 0-)
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    alkatt

    First they are talking about a sort of means test and these "cuts" you are raving about really will only affect those people with substantial income above and beyond Social Security. For the rest of us NOTHING changes. And the "cuts" to the rich are insignificant until years go by as they are chained and each "cut" piece is teeny tiny in itself; it takes a very long time to add up to something to be concerned about. If you are one of the wealthy ones, you will never notice it.
    They aren't cuts at all but just lesser increases in the COLA based on a different way of looking at things for the wealthy. The new way says that if the price of item A goes up, you will buy the lower priced item B instead. Therefore since the person adjusts, the cost of living increase doesn't have to be as large as it is being calculated today. This is still faulty calculating and I am sure if it passes, it will go away in another year or two.
    Stop panicking. Hes got it. The President always wins these contests.

    "We have cast our lot with something bigger than ourselves" - President Obama, July 30, 2010

    by Overseas on Tue Dec 18, 2012 at 09:12:10 AM PST

    •  I'm hoping this is correct (2+ / 0-)
      Recommended by:
      democrattotheend, elwior

      I'm not sure that there is a way for the President to get a deal without some compromise on COLA, although I have read (and welcome more information) about the way that this reduction may compound over time.  I am 15 years at least from retirement.  Don't really want to retire, but for various reasons (no inherited assets, no house, wife's partial disability) we will not have much of a nest egg.  I'll need social security. I'm OK with a degree of poverty and expect it... but worry that the compounded effects over ten or more years of COLA increasing below inflation might cause difficulties.

      Still, I recognize that some sort of compromise on entitlements is inevitable.  I favor more means testing, and realize that COLA may be the least damaging of the options.  

      “If the misery of the poor be caused not by the laws of nature, but by our institutions, great is our sin.” Charles Darwin

      by ivorybill on Tue Dec 18, 2012 at 09:18:22 AM PST

      [ Parent ]

      •  I see you are a VERY wealthy person (0+ / 0-)

        and so the COLA reductions will affect you...NOT! Won't affect me either, and I checked right away. :-)

        "We have cast our lot with something bigger than ourselves" - President Obama, July 30, 2010

        by Overseas on Tue Dec 18, 2012 at 09:35:19 AM PST

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      •  Today's presser (0+ / 0-)

        Q    Yes, Jay, a lot of top Democrats on the Hill, and I think President Obama, spent the campaign season saying, let’s not touch Social Security -- it doesn’t add to the deficit; we can resolve this issue without going to that entitlement program. What is the President’s message to those lawmakers who promised constituents that Social Security would not be touched after the President now has put chain CPI on the table for Republicans?

        MR. CARNEY:  Well, let’s be clear about one thing:  The President didn’t put it on the table.  This is something that Republicans want.  And it is --

        Q    But the Republicans --

        MR. CARNEY:  -- part of his -- if I could please answer Sam’s question, I’d appreciate it.  And the President did include it in his counterproposal, his counteroffer, as part of this process, as part of the negotiation process.  I would note that this is a technical change -- would be if instated -- to the way that economists calculate inflation, and it would affect every program that has -- that uses the CPI in its calculations.  And so it’s not directed at one particular program; it would affect every program that uses CPI. There are also -- as part of the President’s proposals, he would make sure that the most vulnerable were exempted out from this change../..

        MR. CARNEY:  Let me again make clear two things.  One, the President has always said as part of this process when we’re talking about the spending cuts side of this that it would require tough choices by both sides.  And that is certainly the case if you want to reach an agreement.

        Secondly, this is a technical adjustment that supporters of it and economists -- outside economists say is meant to make the government’s estimates of inflation more accurate.  Thirdly, as part of the President’s proposal, there is a clause that would protect vulnerable communities including the very elderly when it comes to Social Security recipients.

        "We have cast our lot with something bigger than ourselves" - President Obama, July 30, 2010

        by Overseas on Tue Dec 18, 2012 at 02:30:08 PM PST

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    •  To quote the famous ObamaCultist manual... (14+ / 0-)

      do you have citations for any of that?  

      OK, that aside, it would appear to me that you are full of it.   Chained CPI which means that, as inflation rises, benefits will rise less than inflation.   This works out to a de facto cut on benefits.   Oh, yes, it will take a few years for the effect to be felt ... but felt it shal be.  

      The "chained CPI" will not be limited to "just the wealthy."   What it will do is lower benefits (or effectively, cap benefits) for everyone.  And thus, the old starve.

      But, thankfully, I guess, you appear to believe that by the time this cuts in, you believe that Congress will somehow ride in to the rescue and raise benefits.   This is 11-dimensional chess....betting on what a future Congress will do, somewhere down the line, is a pretty thin reed to bet on.  

    •  Really? I think you have a lot of hope and faith (6+ / 0-)

      in your comment but little understanding of the chained CPI. And this:

      The President always wins these contests.
      really enjoying that single payer and the repeal of the bush tax cuts...

      "A nation of sheep will beget a government of wolves." Edward R. Murrow

      by temptxan on Tue Dec 18, 2012 at 09:28:33 AM PST

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    •  Chained CPI for COLA does matter (6+ / 0-)

      As I wrote in my e-mail to the White House, if you have already stopped buying meat and are eating beans instead, the option of replacing your steak with chicken to save money is not there for you. It would be one thing if the COLA amount were capped for those earning maximum SS benefits, but those of us with lower SS payments will bear the brunt of this. As it is, COLA does not accurately reflect the real expenses of retirees, who usually have higher drug and other costs. Generics are not always available for the meds we need.

    •  Please explain (0+ / 0-)

      what are your sources for this?

      will only affect those people with substantial income above and beyond Social Security. For the rest of us NOTHING changes.
      Because federal law regulates VA Benefits, which says this:
      38 U.S.C. 1104 - COST-OF-LIVING ADJUSTMENTS, Sub-chapter 1, Sec. 1104 - Cost-of-living adjustments
      (a) In the computation of cost-of-living adjustments for fiscal years 1998 through 2013 in the rates of, and dollar limitations applicable to, compensation payable under this chapter, such adjustments shall be made by a uniform percentage that is no more than the percentage equal to the social security increase for that fiscal year, with all increased monthly rates and limitations (other than increased rates or limitations equal to a whole dollar amount) rounded down to the next lower whole dollar amount.
      Pretty clear to me that Federal Law says nothing about means testing.

      Secondly, if the price of A goes up (such as my modest rent), then I need to substitute lower priced B (a one-room apartment) instead?

      I already sacrificed my health to this country, why do I have to sacrifice my livelihood as well?

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