Social Security
Welcome to the Social Security & Medicare Section of the ADC Website
ALERT - SOCIAL SECURITY FUNDING IN JEOPARDY FROM U.S. SENATE, U.S. HOUSE & PRESIDENT OBAMA’S SO-CALLED MIDDLE CLASS TAX CUT BILLS
DON’T BE FOOLED BY THE RHETORIC!
TAKE ACTION TODAY TO PROTECT SOCIAL SECURITY
WRITE OR CALL YOUR ELECTED OFFICIALS TOLL FREE IN WASHINGTON, D.C.
(1-866) 220-0044 DEADLINE: FEBRUARY 29, 2012
In President Obama’s State of the Union Speech on January 24, 2012, he stated that he was willing to work with Republicans on Entitlement Reform - This means cuts and changes in Social Security, Medicare, and Medicaid according to Senator Bernie Sanders on MSNBC News Today, January 25, 2012.
SEE MORE INFORMATION BELOW:
THE WASHINGTON POST - DECEMBER 29, 2011
Payroll Tax Cut Raises Worries About Social Security’s Future Funding
(U.S. House & U.S. Senate Will Vote on this Social Security Issue between January 17, 2012 & February 29, 2012)
By Jia Lynn Yang, Published: December 29, 2011
By extendingthe payroll tax cut, Congress and the administration have quietly made a critical change in how Social Security is funded — one that some in Washington worry could undermine the program’s foundation if lawmakers keep renewing the tax break.
For the first time in the program’s history, tens of billions of dollars from the government’s general pool of revenue are being funneled to the Social Security trust fund to make up for the revenue lost to the tax cut. Roughly $110 billion will be automatically shifted from the Treasury to the trust fund to cover this year’s cut, according to the Social Security Board of Trustees. An additional $19 billion, it is estimated, will be necessary to pay for the two-month extension.
The tax cut is supposed to be temporary. But as squabbles over this issue and the Bush tax cuts have revealed, short-term tax cuts in Washington have a way of sticking around longer than planned, especially as economic growth remains slow and lawmakers are wary of raising anyone’s tax bill.
The prospect of policymakers continually turning to the payroll tax as a way of providing economic stimulus troubles experts, some lawmakers and both public trustees of the Social Security trust fund. Their concern: that Social Security will lose its status as a protected benefit owed to every working American and instead become politically vulnerable, just like any other government program.
And as this year’s debate about the nation’s debt showed, nothing is off limits to the political brinkmanship that has come to dominate Washington. “It’s a grave step for Social Security,” said Charles Blahous, one of two public trustees for Social Security and a research fellow with the Hoover Institution. “It just seems to me the program both financially and politically will be on a lot rockier footing.”
Robert Reischauer, the other public trustee and president of the Urban Institute, said extending the payroll tax cut another year during high unemployment seems justified. But it “could, if it continues for a substantial period of time, undermine one of the foundational arguments that makes the Social Security program inviolate.”
Since its inception under President Franklin D. Roosevelt, the Social Security program has been premised on a simple contract: Americans pay into the program’s trust fund over years of paychecks through the payroll tax. In return, when they retire, they receive monthly benefits.
The payroll tax cut changes that. Instead being a protected program with its own stream of funding, Social Security, by taking money from general revenue, becomes more akin to other government initiatives such as Pentagon spending or clean-air regulation — programs that rely on income taxes and political jockeying for support.
“All of a sudden Social Security will have to compete with every other program, whereas before it had its own dedicated revenue,” said Nancy Altman, co-director of Social Security Works, an advocacy group. “It’s breaking the kind of firewall that has always existed between the trust fund and the operating fund.” She added: “The biggest concern is that this was done without any hearings, without any apparent regard for the impact on Social Security.”
Thefund has been built up over time by contributions from the 12.4 percent payroll tax, of which employees and employers each pay 6.2 percent. The temporary tax break reduced the share paid by employees by 2 percentage points. Altman said that the tax had never been reduced before, and the most it has been raised at any time is 0.5 percentage points.
“We’ve never really monkeyed around with Social Security before,” said Blahous. “Until now it was understood the payroll tax was supposed to do one thing. It wasn’t supposed to be a stimulus mechanism. Now the payroll tax is this variable thing that goes up and down according to other economic conditions. That is a real transformation of what that money is supposed to do.”
The pressure to cut the tax came from the country’s slow-growing economy. Last December, Republican lawmakers fought to extend the George W. Bush tax cuts, which were about to expire, while the White House pushed for a tax credit called Making Work Pay. Their compromise: a two-year extension of the Bush tax cuts, a year of extended unemployment benefits and a one-year payroll tax cut that effectively replaced Obama’s tax credit idea…”
During the fight earlier this month, Democrats borrowed from the Republican playbook, arguing that reverting to the old rate would be a tax hike. And economists worriedthat allowing the cut to expire would dampen economic growth in 2012 by as much as two-thirds of a percentage point.
The payroll tax cut could be here to stay for a while. Senate Majority Leader Harry M. Reid (D-Nev.) has said he will appoint a conference committee to search for ways to extend the two-month cut for all of 2012.
Blahous said Social Security will be facing enough financial pressures in the years to come without the payroll tax cut complicating matters. This year, the Social Security system projects that it will pay out $46 billion more in benefits than it will collect in cash. It made up for the shortfall by redeeming Treasury bonds bought in years when there were cash surpluses.
Lawmakers on both sides of the aisle, including Sen. Bernie Sanders (I-Vt.), Sen. Jon Kyl (R-Ariz.) and dozens of House Democrats, have expressed concerns about the impact of the payroll tax cut on Social Security. “Whether you’re on the left or the right, you should really dislike this,” said Blahous. “It has been somewhat mystifying, the determination to do this. I just think it’s shortsightedness.” End
Note: You may reach any U.S. Congressman or U.S. Senator in Washington, D.C. at this
Number: (1-866) 220-0044 Protect Social Security – Make a Call Today
Key Senators to Contact: Key House Members to Contract:
Senator Harry Reid U.S. Congressman Mike Thompson
Senator Dianne Feinstein U.S. Congressman George Miller
Senator Barbara Boxer U.S. Congresswoman Nancy Pelosi
Senator John Kerry U.S. Congressman Henry Waxman
Senator Bernie Sanders U.S. Congressman S. Levin
Senator Max Bacus U.S. Congressman Becera
Senator Cardin & Your Congressman & Your Senator
(Please feel free to contact as many Senators & Congressmen as possible in the next few days.)
There are several U.S. Congressional Bills that would undermine Social Security Funding:
H.R.3765 -- Temporary Payroll Tax Cut Continuation Act of 2011 (Received in Senate - RDS) TITLE I--TEMPORARY PAYROLL TAX RELIEF
SEC. 101. EXTENSION OF PAYROLL TAX HOLIDAY.
This bill reduces the SSI Withholding-Undermines Social Security Funding
S.1549 -- American Jobs Act of 2011 (Placed on Calendar Senate - PCS)
TITLE I--RELIEF FOR WORKERS AND BUSINESSES
Subtitle A--Payroll Tax Relief
SEC. 101. TEMPORARY PAYROLL TAX CUT FOR EMPLOYERS, EMPLOYEES AND THE SELF-EMPLOYED.
This bill reduces the SSI Withholding-Undermines Social Security Funding
http://www.whitehouse.gov/sites/default/files/jobs_act.pdf
The Payroll Tax Holiday is another way to state that Social Security Funding is to be dramatically reduced through reductions in SSI withholding…the President has advocated that businesses be allowed to also reduce the SSI withholding they pay for their employees…giving corporations another huge tax break at public expense. This is disguised by calling it a business and employee tax holiday.
For More information Visit Senator Bernie Sanders Website or click on link below: http://www.agriculturedefensecoalition.org/content/bernie-sanders
SOCIAL SECURITY & MEDICARE ALERT - 2012
There are currently seventeen bills pending in either the U.S. House of Representatives or the U.S. Senate that are related to changes in Social Security. This staggering number of Social Security bills, now being considered in various committees, where amendments will be added or the bills changed, shows how determined many elected officials are in either privatizing or killing two of the most beneficial programs to protect the public ever created (with the exception of the U.S. EPA and our Clear Air and Water Act Laws).
President Obama and members of the U.S. House and Senate have placed Social Security and Medicare on the chopping block in ongoing debt ceiling negotiations. In these secret negotiations, far away from public enlightenment or debate, deals are being cooked-up to undermine, cut or privatize these important and highly beneficial programs.
If you want to read current U.S. House or Senate Legislation on Social Security & Medicare visit this website: http://www.govtrack.us/
Please note that the title of these Bills can be highly misleading and does not reflect the written content of the legislation.
Another source of information or to read the complete bill texts on current U.S. House or Senate Legislation visit this website: http://thomas.loc.gov/home/thomas.php
More bills will be added to this list as they are introduced (See [1-2] above for full text of these bills, their current status and which committee, and committee members, will be conducting hearings on these bills).
The Toll Free Telephone Number for all members of the U.S. Senate or House of Representatives: (1866) 220-0044
The drumbeat has been increasing since 2010, to undermine Social Security and Medicare. Federal Reserve Chairman Ben Bernanke has been leading the charge since 2007, to make critical changes to these programs claiming that these programs are the key to solving our financial deficit. Chairman Bernanke and President Obama took the first steps in this direction when they gave a tax holiday in December 2010, to those making Social Security tax payments, in a tax deal with Republicans.
U.S. Senator Bernie Sanders spoke for over 8 hours on the floor of the U.S. Senate and outlined the problems faced with the passage of the tax cut bill for "millionaires and billionaires", which passed on December 17, 2010, and has now been signed into law by President Obama. (See his U.S. Senate speech below.)
Social Security and Medicare are high on the list of President Obama's Debt Commission list of recommendations for several cuts as well. All of these recommendations will be at the forefront of U.S. Congressional Actions in 2011. President Obama should not be trusted to protect Social Security in the future because he allowed for its undermining in his tax giveaway to the very rich in December 2010. Our only protection for Social Security and Medicare will be by the people taking action in 2011, to protect these programs.
Instead of making recommendations about funding the U.S. War that continues in Iraq, where 50,000+/- troops are to remain indefinitely, along with thousands of private contractors, and other U.S. employees, the commission seems to be only interested in undermining Social Security and Medicare. With escalating wars in Pakistan and Afghanistan escalating the national debt by $Billions each month along with Pentagon spending, the President's commission seems unwilling to tackle these costs...instead working on budget cutbacks in social services to overcome ever-increasing deficits.
According to Bloomberg News (April 27, 2010): "...The AARP, the Washington-based advocacy group for the elderly, said yesterday the panel should forswear cutting Social Security, which provides “financial security for millions of older adults -- many of whom are kept out of poverty” by it. Roger Hickey, co-director of the Washington-based Campaign for America’s Future, said “deficit hysteria” was being used to clear the way for painful cuts in Medicare..."
With unemployment reaching epidemic levels and the undermining of our pensions, through poor investments and Wall Street Ponzi Schemes, the public is finding that their retirement income is being eroded at an alarming rate. We cannot allow Social Security to be undermined at a time when many older citizens will find that this is their only source of income due to pension losses. In addition, the elderly cannot afford to depend on their children to support them if Social Security and Medicare benefits are cut or undermined, due to ever-increasing low wages and job losses in the U.S.
U.S. Congressman Mike Thompson made the following statement at a Public Meeting in Mendocino County, California on August 19, 2010: "...it's not true that it's "broke." Thompson stated that Social Security is solvent until 2037. "Social Security was a very far-reaching program. It's the most successful government program there's ever been," said Thompson. "It's responsible for keeping a heck of a lot of people out of poverty; it's an absolute lifeline for many and important for the economy..."
"...Thompson said the scope of Social Security has greatly expanded since it was signed into law 75 years ago. In Mendocino County alone, Social Security — just the retirement portion — accounts for $207 million in income, he said...In closing, Thompson directed a comment to the senior population. "The senior voice is a very loud voice. You have clout and you should use that," said Thompson.
408 1 2011 NWV Social Security on the Government Chopping Block by Rosalind June 11 2011.pdf
408 1 PETITION TO PREVENT THE PRIVATIZATION OF SOCIAL SECURITY.pdf
408 1 2011 AARP Letter to the U.S. Congress on Medicare and Social Security April 14 2011.pdf
408B 2011 U.S. House Bill 1052 Social Security Guarantee Act of 2011 Text of Bill.pdf
408B 2011 U.S. House Bill 1118 Social Security Protection Act of 2011 Text of Bill.pdf
408B 2011 U.S. House Bill 1332 Social Security Fairness Act of 2011 Text of Bill.pdf
408B 2011 U.S. House Bill 1538 Social Security Identity Defense Act of 2011 Text of Bill.pdf
408B 2011 U.S. House Bill 1630 Social Security and Medicare Protection Act of 2011 Text of Bill.pdf
408B 2011 U.S. House Bill 219 Social Security Preservation Act of 2011 Text of Bill.pdf
408B 2011 U.S. House Bill 787 Social Security for Illegal Immigrants Act of 2011 Text of Bill.pdf
408B 2011 U.S. Senate Bill Social Security Protection Act of 2011 Text of Bill Support This Bill.pdf
408F 2007 Federal Reserve Chairman Bernanke on Social Security MSNBC News.pdf
408F 2010 Debt Commission Final Report Controversial The Washington Post DEC 1 2010.pdf
408H 2010 U.S. Senate Hearing on Social Security October 7 2010 http www.c span.pdf
408M 2011 U.S. Congress Budget Battles New Threat to Medicaid Medicare April 5 2011 NYTimes.pdf
408M 2011 U.S. House Republicans to Launch Quest to Privatize Medicare APNEWS January 28 2011.pdf
408V 2011 Social Security Retirement Past and Future of Social Security FEB 22 2011 C SPAN Video.pdf
408 1 2011 AARP Letter to the U.S. Congress on Medicare and Social Security April 14 2011.pdf
408 1 2011 NWV Social Security on the Government Chopping Block by Rosalind June 11 2011.pdf
408 1 NWV Protect Social Security June 4, 2009 Article by Rosalind Peterson.pdf
408A Social Security Alert May 4, 2007 NewsWithViews.pdf
U.S. Congressman Mike Thompson Speech on the Floor of the U.S. House of Representatives in 2005, regarding Social Security. Please note that the Democratic Club of Ukiah and the Democratic Clubs in Lake County, along with other California Democratic Clubs collected nearly 10,000 thousand signatures to prevent the Privatization of Social Security in six weeks in 2005.
The following U.S. House Speech by Congressman Thompson and U.S. Congressman's Presentation & Q&A in Lake County, California, is presented below for your information:
Congressman Thompson presentation. Click on photo to start video.
Congressman Thompson in Lake County, California part 1. Click on photo to start video.
Congressman Thompson in Lake County, California part 2. Click on photo to start video.
Congressman Thompson in Lake County, California part 3. Click on photo to start video.
408D 2009 U.S. Congressional CBO’s Long-Term Projections for Social Security_ 2009 Update.pdf
408D 2010 Social Security Trust Funds March 31, 2010 U.S. Congressional Budget Office.pdf
408H 2010 U.S. Senate Hearing on Social Security October 7, 2010 http___www.c-span.pdf
408H 2010 U.S. Senate Hearing on Social Security October 7, 2010 http___www.c-span.pdf
Medicare plays a vital role in ensuring the health and retirement security of older and disabled Americans, and we agree that reasonable changes to hold down costs and improve our health care system, including Medicare, should be considered. While we appreciate the effort to lay out alternative approaches to health and retirement security, we remain opposed to privatization or vouchers which would simply shift costs to older Americans. The U.S. House and Senate are currently working on upcoming legislation which would privatize Medicare and Social Security. We all need to take action today to oppose these actions. Rosalind Peterson
408P Social Security NYTimes March 24, 2010 - Act Today to Stop Privatization.pdf
The 408T PDF Section below contains information about Social Security Totalization Agreements with Foreign Countries.
408W 2009 A Stunning Senior Moment by an Unknown Author.pdf
408X 2009 Social Security Alert NYTimes January 8, 2009 President Obama.pdf
408X 2009 Social Security May 13, 2009 New York Times Medicare Obama Administration.pdf
408X 2010 U.S. Fiscal Commission Home Page Website August 23, 2010 http___www.fiscalcommission.pdf
408X 2010 U.S. Fiscal Commission Website August 23, 2010 Commission Members.pdf
408Z 2001 No Comment Social Security September 11, 2001 Connection.pdf
408Z 2010 The Latest on Medicare and Social Security NYTimes August 9, 2010.pdf
408Z 2010 Undermining Social Security-Another Plan by Susswein NYTimes July 9, 2010 Opinion.pdf
Social Security: Recession and Older Americans
October 18, 2011
U.S. Senate Committee Hearing-Health, Education, Labor & Pensions
Panel One:
• Barbara Bovbjerg, director, Education, Workforce and Income Security Issues, Government Accountability Office
Panel Two:
• Gail Ruggles, Lyndonville, VT
• Eric Kingson, Syracuse University and Social Security Works, Syracuse, NY
• Sandra Nathan, National Council on Aging, Washington, DC
• Heidi Hartmann, Institute for Women's Policy Research, Washington, DC
(1 hour, 32 minutes)
The American Jobs Act will undermine Social Security - See Senator Bernie Sanders speaking out on this issue on Countdown - October 5, 2011 Video
http://www.whitehouse.gov/jobsact/read-the-bill
October 6, 2011
Full Text of the American Jobs Act
http://www.whitehouse.gov/jobsact/read-the-bill#SEC
SECTION 101 - Reduces substantially the amount paid by businesses and employees into the Social Security system. This will have the impact of giving business the ability to reduce paying their share of employees Social Security benefits and also reduces the amount employees pay toward this program. When employees go to get their benefits in the near future they will find that they have underpaid and may not eligible for full benefits Social Security benefits in the future.
Imagine giving large corporations a tax break which undermines our Social Security System. Write to your elected officials and oppose giving our corporations another tax break at the expense of our Social Security Program.
Oppose Section 101 of the American Jobs Act Today
Toll Free # for all of our elected officials: (1866) 220-0044
Contact the White House: http://www.whitehouse.gov/contact
In December 2010, Social Security payroll reductions were reduced in a bill passed by Congress. Now they will be reduced again this time giving corporations a big break at our expense. Indeed taxpayers will have to pick up the differences in what is not collected as the missing funds will now come out of our taxes paid into the general fund. Thus, we are once again subsidizing our large corporations.
The American Jobs Act will undermine Social Security - See Senator Bernie Sanders speaking out on this issue on Countdown - October 5, 2011 Video
http://www.whitehouse.gov/jobsact/read-the-bill
October 6, 2011
Full Text of the American Jobs Act
http://www.whitehouse.gov/jobsact/read-the-bill#SEC 227
SECTION 101 - Reduces substantially the amount paid by businesses and employees into the Social Security system. This will have the impact of giving business the ability to reduce paying their share of employees Social Security benefits and also reduces the amount employees pay toward this program. When employees go to get their benefits in the near future they will find that they have underpaid and may not eligible for full benefits Social Security benefits in the future.
Imagine giving large corporations a tax break which undermines our Social Security System. Write to your elected officials and oppose giving our corporations another tax break at the expense of our Social Security Program.
Oppose Section 101 of the American Jobs Act Today
Toll Free # for all of our elected officials: (1866) 220-0044
Contact the White House: http://www.whitehouse.gov/contact
In December 2010, Social Security payroll reductions were reduced in a bill passed by Congress. Now they will be reduced again this time giving corporations a big break at our expense. Indeed taxpayers will have to pick up the differences in what is not collected as the missing funds will now come out of our taxes paid into the general fund. Thus, we are once again subsidizing our large corporations.
Uploaded by DJKucinich on Jul 12, 2011
Social Security didn't create the deficit, but America's seniors are being presented with a fake Social Security crisis to try to trick them into accepting reduced benefits. Social Security will be able to pay 100% of its benefits through 2037 without any changes whatsoever.
So, why the panic today? If seniors accept cuts to Social Security benefits today, a surplus cash flow will build in the Social Security trust fund. According to the Congressional Research Service, "Social Security's cash surpluses are borrowed by the U.S. Treasury and can be used for tax cuts, spending or repaying debt."
Social Security benefit cuts are increasing taxes paid to Social Security or extending retirement age will give more money for tax cuts spending or repaying the debt. Except for one thing: Social Security money belongs to those who have paid into the fund, it's not the government's money to use it; it shouldn't be the government's money to play with.
Senior citizens should not have to accept a reduced standard of living to finance tax cuts for the rich. We must take a stand for senior citizens and protect Social Security and protect future generations from this raid on Social Security's funds.
U.S. Senator Bernie Sanders - On the Floor of the U.S. Senate
C-SPAN March 30, 2011
Lists 10 Worst Corporate Tax "Avoiders"
Some of them even get IRS tax rebates.
http://www.c-span.org/search.aspx?For=Senator%20Bernie%20Sanders
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Sen. Sanders Held a Tax Cut Filibuster
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Sen. Bernie Sanders (I-VT) wrapped up an 8 ½ hour speech, or what his office called a “tax cut filibuster” on the Senate floor opposing the White House and Republican compromise on tax cuts and unemployment benefits. He began his speech at 10:25am saying, “I am simply here today to take as long as I can to explain to the American people the fact that we have got to do a lot better than this agreement provides.”
Friday : Washington, DC
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 Sanders Filibuster: Part 1 Sanders Filibuster: Part 2 Sanders Filibuster: Part 3 |
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Sen. Bernie Sanders (I-VT)
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Sen. Sanders discusses his amendment to the financial regulatory bill now in the Senate (S 3217), which requires the Government Accountability Office to audit the Federal Reserve. Sen. Sanders' proposal would force the Fed to disclose online all the recipients of trillions of dollars in taxpayer loans through the agency’s secret “discount window” program. The Obama administration opposes the measure, but it is receiving bipartisan support.
Thursday, May 6, 2010 : Washington, DC
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Bernie Sanders speaking on MSNBC (The ED show): http://www.huffingtonpost.com/2010/12/14/bernie-sanders-social-security-tax-deal_n_796376.html?view=print
Past and Future of Social Security - C-SPAN Video Library February 22, 2011
U.S. Senator Bernie Sanders (I-VT) calls uncontrollable greed a disease, and demands an end to tax breaks for the rich.
May 3, 2011 C-SPAN Book TV
*Independent Senator Bernie Sanders of Vermont discusses his eight and a half hour speech that he delivered on the Senate floor on December 10, 2010. In the speech, Senator Sanders was critical of President Obama's extension of the Bush administration tax cuts for top earners and diminished estate tax rates as well as the disappearance of America's middle class.
Sen. Bernie Sanders talks about the speech, which was recently published in a book.*
Independent Senator Bernie Sanders ofVermont discusses his eight and a half hour speech that he delivered on the Senate floor on December 10, 2010..."
C-SPAN July 8, 2011
Discussions on Capitol Hill surrounding spending cuts and the federal debt ceiling have raised a host of questions on entitlement programs such as the Social Security program. The Subcommittee on Social Security for the House Ways and Means Committee held a hearing on Social Security finances. Chairman Sam Johnson (R-TX) called for the hearing to review current benefit expenditures of Social Security as well as proposed changes and the potential impact of such changes on the program.
The 2011 Annual Report of the Social Security Trustees highlighted future funding challenges to both the Old Age and Survivors Insurance (OASI) and the Disability Insurance (DI) programs. Current estimates by the Trustees project permanent and growing cash flow deficits noting that the combined OASI and DI Trust Funds will be exhausted by 2036, with government revenues covering only 77% percent of benefit payments.
Witnesses at the hearing include; Syl Schieber, independent consultant; Thomas S. Terry, president, T. Terry Consulting, representing the American Academy of Actuaries; C. Eugene Steuerle, senior fellow, Urban Institute; Joan Entmacher, vice president for family economic security, National Women's Law Center; Charles P. Blahous, research fellow, Hoover Institution; and Barbara Bovbjerg, director, Education, Workforce and Income Security Issues, Government Accountability Office.
http://www.c-span.org/Events/Lawmakers-Examine-Social-Security-Cuts/10737422757-1/
Dennis Kucinich - Washington Journal September 22, 2011
BooK: Retirement Heist, How Companies Plunder and Profit from the Nest Eggs of American Workers"
Author Ellen Schultz argues that many large employers have plundered employee pension plans over the past decades. She also talks about the crisis this "theft" has created. C-SPAN
Ellen Schultz is an investigative reporter for the Wall Street Journal. She was part of the Journal team that was awarded the Pulitzer Prize for Explanatory Reporting in 2003.
C-Span Broadcast - Washington, DC - Tuesday, February 7, 2012
Funding for Social Security Funding Cuts (Called Erroneously A Middle Class Tax Cut), proposed by President Obama & The Democrats being blackmailed by Republicans. Interesting Discussion A House-Senate Conference Committee continues their negotiations today with a fourth meeting on extending a payroll tax cut for workers paying into Social Security, as well as long-term unemployment aid and Medicare payments to doctors. The tax cuts expire at the end of this month. Both parties agree on the need for an extension, but not on how to pay for it. As part of the package lawmakers recently took up aid to families and air pollution regulations by the Environmental Protection Agency.
(Video): http://www.c-span.org/Events/Conferees-Continue-to-Meet-on-Tax-Cut-Extension/10737428013:/
U.S. Gauges Fiscal Condition of Social Security & Medicare
Please note that no Board of Trustees stated that the undermining of Social Security by lowering the amount employees paid into SSI, as a Middle Class Tax Cut, is the cause of the decline in the Social Security Trust Fund. All that needs to happen is to raise the Income Cap on Social Security.
C-SPAN - Washington, DC - Monday, April 23, 2012 - "...Treasury Secretary Tim Geithner and Health and Human Services Secretary Kathleen Sebelius, who serve on the Board of Trustees of the Social Security and Medicare trust funds, released a new report on the fiscal condition of Social Security and Medicare. Other board members include Labor Secretary Hilda Solis, Social Security Commissioner Michael Astrue, and Public Trustees Charles Blahous and Robert Reischauer. The trustees will hold a press briefing to discuss the release of the annual Trustees' Reports. The report shows that the Social Security and Medicare Trust Funds will exhaust their funds earlier than projected. A major reason, according to economic analyists, is due to the recession and slower economic growth..."
http://www.c-span.org/Events/US-Gauges-Fiscal-Condition-of-Social-Securi...
C-SPAN Video - Bill Clinton-State and Future of U.S. Economy - May 15, 2012 "...Former President Bill Clinton talked with Tom Brokaw about the state and future of the U.S. economy. Among the topics they discussed were federal debt, looming federal budget cuts in 2013 if Congress cannot reach a compromise on the budget, and political partisanship. In his comments President Clinton talked about the responsibility of voters for the state of the country, saying, "They go around telling everybody how sorry these politicians are, and they voted for all of them....The American people have got to take some ownership, too." He also encouraged President Obama to focus more on his budget and deficit reduction proposals during the presidential race. This program was part of a day-long Peter Foundation forum on the U.S. economy and fiscal challenges..." (Please Note the Brokaw Statement on his challenging the AARP and how they capitulated...Also Clinton hedging his bets on Social Security.)
C-SPAN Video - May 15, 2012 U.S. Treasury Secretary Timonty Geithner "Treasury Secretary Timothy Geithner was interviewed by David Wessel about the U.S. economy and financial challenges. In his comments he said that JPMorgan Chase's recent $2 billion trading loss helps make the case for tougher rules on financial institutions. This program was part of a day-long Peter Foundation forum on the U.S. economy and fiscal challenges..." (Note that he hedges his statements quite well with regard to Social Security and other issues.)
http://www.c-span.org/Events/Fiscal-Summit-to-Showcase-Political-Leaders/10737430684/
*Fiscal Summit to Showcase Political Leaders* **
*Washington, DC-C-Span Video
Tuesday, May 15, 2012*
*"...The Peter G. Peterson Foundation (PGPF) holds its third annual "2012 Fiscal Summit: America's Case for Action." Senior officials, policy-makers and elected leaders will meet for a bipartisan and day-long discussion on America’s fiscal challenges.
ABC’s George Stephanopoulos moderates a variety of interviews with leading policymakers, elected leaders, businessmen and scholars about the importance of addressing the nation’s fiscal challenge.* *
Pres. Bill Clinton will also appear to discuss the importance of focusing on deficit reduction and the 2012 presidential campaign. Also, Rep. Paul Ryan (R-WI) talks about the the nation's long-term fiscal challenges including the competing budget proposals from Pres. Obama and himself..."*
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*Second C-SPAN Video on Social Security as last video after the one above...Website with the following caption:*
http://www.c-span.org/Events/Peter-Peterson-Foundation-Event-on-Budget-and-Deficits/17777/
*Washington, DC
Wednesday, April 28, 2010 - C-SPAN Video
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*"...Suggesting a stronger move to fiscal conservatism, economic officials gathered at the first-ever National Fiscal Summit to advance the national dialogue on avoiding another economic crisis. Former President Bill Clinton and the co-chairmen of the National Debt Commission were the morning keynote speakers. The summit coincides with the recent bipartisan fiscal commission meeting and Congress' current work on finance overhaul legislation...."*
C-SPAN - Washington Journal June 14, 2012 Video - Robert Reich, Former Labor Secretary, Clinton Administration, 1993-97 - Topic: Guest will discuss his views on the U.S. economy, including job creation, tax policy, falling U.S. median incomes, possible economic stimulus, and the future of health care. Our conversation will also include how liberals and progressives should frame the 2012 campaign debate.
C-SPAN Video - July 16, 2012 - "...Vice President Joe Biden spoke to representatives from seniors groups around the nation on senior's issues and retirement security. He also talked about the House Republican budget, and how that might affect Medicare, as well as Social Security and other issues..." http://www.c-spanvideo.org/program/BidenonS
http://www.c-spanvideo.org/program/Barl
C-SPAN Interview August 22, 2012 Video AFTER WORDS With Donald Barlett and James Steele.
"...In their latest book, THE BETRAYAL OF THE AMERICAN DREAM, the Pulitzer Prize-winning investigative journalism team of Barlett and Steele argue that Washington and Wall Street have dismantled the foundations of America's middle class through a series of actions over several decades. Chief among those destructive actions, they say,was deregulation of various industries and outsourcing of manufacturing jobs. They discussed the plight of the middle class with Juan Williams...."
Elizabeth Warren at the 2012 Democratic National Convention - "...Wednesday, September 5, 2012 C-SPAN Video - Elizabeth Warren, Senate Candidate for Massachusetts and former Special Advisor for the Consumer Financial Protection Bureau, speaks at the 2012 Democratic National Convention..."
C-SPAN Video - November 15, 2012 - Washington Journal Interview "...U.S. Senator Bernie Sanders (I-VT) talked about the “fiscal cliff,” the impending tax increases and budget cuts at the end of 2012 if Congress fails reach a new budget agreement, and what he thinks progressives can use as bargaining chips - and what should be kept off the table. He addressed sequestration, tax cuts and entitlement programs, and talked about the role of independents in the Senate..." Social Security & Medicare should be off the table - "reform" means reducing benefits. Senator Reid made the point Social Security ($2.7 Trillion Surplus) has not contributed to the deficit - funded by the payroll tax on employees and employers. This program has nothing to do with deficit reduction. Medicare - Life of Medicare has been extended recently by ten years. (Single payer Medicare for all system would be the best solution.) Seniors struggling with health care bills...no cuts in benefits for people on Medicare...we can save money if we negotiate for drugs much as the Veterans Administration does now - results that Medicare pays higher drugs costs. Fifty Million people have no health insurance...children would be removed from health care if Medicaid were cut...and more information.
http://www.c-spanvideo.org/program/Cliffand
Bernie Sanders 7/20/2011 (Click to view the video)
Bernie Sanders, 20th July 2011 (Download of the above file.)
Bernie Sanders 7/20/2011 part 2 (Click to view the video)
Bernie Sanders, 20th July 2011 (Download of the above file.)