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About Progressive Round Table Displaying items by tag: Social Security
Displaying items by tag: Social Security
Tuesday, 25 March 2014 00:00

How Social Security Was Saved

The release of the White House’s 2014 budget in April 2013 was a stomach-churning occasion for American seniors who depend on Social Security. In an effort to woo the austerity-now crowd, President Barack Obama included in his proposal a new formula to calculate Social Security cost-of-living adjustments: the chained consumer price index, or chained CPI. Presented as a harmless technocratic fix, chained CPI would have hit America’s retirees in the pocketbook by reducing their Social Security cost-of-living increases.

It’s debt ceiling time, and the United States economy is once again on the brink, held hostage by extremists hell-bent on forcing cuts to Medicare and Social Security. Oh, wait. That was last year. In 2014, for the first time in three years, the vote to extend the nation’s debt ceiling did not bring the United States to the brink of default in a high-stakes game of slash and burn.

Sen. Warren: 'Social Security is incredibly effective, it is incredibly popular, and the calls for strengthening it are growing louder every day.'

With Social Security cuts once again on the table in closed-door congressional budget negotiations, a growing movement has taken the offensive, demanding that lawmakers strengthen, rather than stranglehold, our social safety net.

As Republicans hold the government hostage and threaten to wreak economic havoc with the looming debt-ceiling showdown, some progressives on the Hill are worried that the strong-arm tactics will lead to an agreement on so-called “entitlement reform.” That’s Washington parlance for cuts to the nation’s most significant social programs: Social Security, Medicare and Medicaid.

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