Obama’s Planned Cuts to Social Security Put on Hold for Midterms

social security poverty

President Obama had planned to cut Social Security by reducing cost of living increases, but those plans have been put on hold, presumably at least until the Congressional midterms are over. Last Thursday the White House dropped a proposal to cut Social Security from its budget proposal in order to protect Democrats who’d surely catch heat for voting to cut the popular federal pension program.

Obama’s proposed cuts shouldn’t have come as a surprise since Obama often preemptively negotiates with Republicans, even though the tactic has proved a failure.

Reuters reports on why the White House dropped the proposal:

Dropping the offer this year is a sign Democrats are girding for November congressional elections and in no mood to risk supporting proposals that could cost them votes from seniors on Election Day on November 4.

 

Obama had offered to make a controversial change in how the government calculates inflation for Social Security and other federal benefits in a way that could lead to cuts in benefits for some Americans.

Even though nothing that has transpired since Obama took office gave reason for optimism, White House officials had hoped that cutting Social Security would lead to some sort of grand bargain between them and Congressional Republicans.

A White House official said that by “refusing to identify even one unfair tax loophole they would be willing to close despite the president’s willingness to put tough things on the table.”

However, even though the proposal is off the table for now, White House officials confirm that they remain open to the idea so long as Republicans are willing to deal.

 

4 comments
Watchful
Watchful

While the the POTUS' so-called 'grand bargain' is not yet 'official', it's all but a done deal. It's just a matter of time at this point. Rest assured, as soon as the midterm elections r over with it'll be right back 'on the table'.  So all those SS recipients had better expect to receive some type of cuts to their benefits in the not too distant future. Trust me, both major political parties desire those cuts and have been targeting the SS trust fund for years now.

JamesGrunewaldt
JamesGrunewaldt

@Watchful that is true it will be on the table never fails pay in all years that you work so the country can spend it on other countries and wages for the legtisvies. not right its putting it back to the state to take care of it well it won't work. impossible. and also to spent on the wars that are not really world wars. this is bull s.___let eurpoe take care of them selves quit bringing in foriegniers all the time they get the jobs cause its a cut break to business.

Watchful
Watchful

@JamesGrunewaldt


Yes, James ... and they've been stealing money from the SS trust fund coffers for decades and have convinced so many ppl in this nation that SS is an 'entitlement program' when it isn't, It's a trust fund that we pay into to sustain us during our retirement years.


 Not only that, but they've been planning for years now to raise the age that you can start receiving benefits to 70 or higher in the hope that many retirees simply won't live long enough to collect much, if any, of all that money they've paid into the system for all those years. This is the thanks u receive for all those dedicated years of loyal service u put in during ur employment career.


 And don't think they aren't eyeing cuts to Medicare and Medicaid also, along with so-called food stamps or the SNAP program. They're targeting all the so-called 'social safety net' programs and placing even more hardship on the backs of those who can least afford it and r the most vulnerable, the poor and the elderly.  

JamesGrunewaldt
JamesGrunewaldt

@JamesGrunewaldt it isn't right to desort the program who in the hell do they think they are. got a mess from bush starting two wars the devils is really working on these poor devils. to figure out how to make the country strong spoil the America's dream to have a faith loving country wake up Obama. jgrunewaldt