Cutting U.S. Social Security benefits for seniors and the disabled may cause steeper spending declines in House districts controlled by Republicans, hurting local businesses, a Bloomberg Government study found.
Republicans are likely to represent districts with more residents collecting Social Security checks for retirees or benefits for the disabled, compared with Democrats, according to the study. Curtailing the federal aid would give recipients less spending money, said Jason Arvelo, the Bloomberg Government labor analyst who wrote the report released today. ...
Republicans control eight of 10 House districts -- in Florida, Michigan, New Jersey and Pennsylvania -- with the most Social Security retirement benefits to seniors and survivors per resident. Democrats hold the 10 districts in Illinois, California, New York, Texas and Arizona with the lowest average benefits....
Reducing benefits would cause the biggest economic impact in West Virginia, Florida, Pennsylvania and Michigan, according to the report by Arvelo, formerly a senior analyst at economic consulting firm Compass Lexecon LLC, a subsidiary of FTI Consulting Inc. based in West Palm Beach, Florida.
West Virginia, Kentucky, Arkansas and Alabama top the list of states that would be likely to be hurt by bills curtailing disability benefits.
Jun 23, 2011
Why Am I Not Surprised?
From Bloomberg News:
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6 comments:
Same old baloney. Republicans are not talking about cutting actual currently-paid benefits, but lets put out phony studies that detail the scary damage that the non-existent cuts will cause, so thatthe Democrats can pose as saviors again.
The people who are not yet, but will be, entitled to RIB and DIB lower than they are now are very definitely exist.
Fascinating study. Increasing the retirement age, a proposal put forth by Republicans in 2009 and 2010, amounts to a benefit cut.
In fact, benefits are already being reduced under current law. The age at which a worker can receive full benefits is gradually being raised to 67, reducing the length of time a person is eligible to collect. Medicare premiums, which are automatically deducted from Social Security checks, continue to rise. The proportion of benefits subject to the personal income tax is increasing, as retirement income grows nominally and the threshold below which an individual doesn't pay taxes remains constant.
Social Security benefit cuts are likely. They are already happening.
There are no proposals to cut the current benefits of anyone presently receiving benefits, unless you can cite proof that I am wrong. Again, just more fear-mongering. But, of course, let's ignore the real fiscal calamity that is approaching as Obama and the Democrats try to Europeanize America.
What's awesome about this study is that it shows that Democrats are elected by educated, working people and Republicans are elected by the rest.
"Lawmakers and the Obama administration are reportedly considering switching to a 'chained' Consumer Price Index. According to the advocacy group Strengthen Social Security, the chained-CPI could lead to annual Social Security benefit cuts of $560 for those aged 75, $984 for those aged 85 and $1,392 for those aged 95."
http://www.huffingtonpost.com/2011/07/01/social-security-advocates_n_888899.html
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