Showing posts with label Deficit. Show all posts
Showing posts with label Deficit. Show all posts
12/21/17
6/7/13
Financial Security of Elderly Americans at Risk: Proposed changes to Social Security and Medicare could make a majority of seniors ‘economically vulnerable’ | Economic Policy Institute
Financial Security of Elderly Americans at Risk: Proposed changes to Social Security and Medicare could make a majority of seniors ‘economically vulnerable’ | Economic Policy Institute
"Policymakers considering changes to social insurance programs such as Social Security and Medicare must consider the economic realities confronting elderly Americans. Many of America’s 41 million seniors are just one bad economic shock away from significant material hardship. Most seniors live on modest retirement incomes, which often are barely adequate—and sometimes inadequate—to cover the costs of basic necessities and support a simple, yet dignified, quality of life. For these seniors, and even for those with greater means, Social Security and Medicare are the bedrock of their financial security. Any proposed changes to these programs must be evaluated not just for their impact on future budget deficits, but for their impact on living standards of the elderly."
"Policymakers considering changes to social insurance programs such as Social Security and Medicare must consider the economic realities confronting elderly Americans. Many of America’s 41 million seniors are just one bad economic shock away from significant material hardship. Most seniors live on modest retirement incomes, which often are barely adequate—and sometimes inadequate—to cover the costs of basic necessities and support a simple, yet dignified, quality of life. For these seniors, and even for those with greater means, Social Security and Medicare are the bedrock of their financial security. Any proposed changes to these programs must be evaluated not just for their impact on future budget deficits, but for their impact on living standards of the elderly."
4/5/13
Beyond Deficit Scare-Mongering
Beyond Deficit Scare-Mongering
"Conservatives’ real aim in their fiscal brinkmanship is to gut Social Security and Medicare."
"Conservatives’ real aim in their fiscal brinkmanship is to gut Social Security and Medicare."
3/18/13
Stop Freaking Out About the Debt! 5 Reasons There Is No Debt Crisis | Alternet
Stop Freaking Out About the Debt! 5 Reasons There Is No Debt Crisis | Alternet
"In conclusion: the “debt crisis” is a mere phantom — only one of many possible futures, and far from a certainty. The interest America is paying on its debt is currently lowerthan it was in the 1990s, despite a lower debt-to-GDP ratio then. When inflation is factored in, current real interest rates on our debt are negative. Financial markets are willing to pay us to borrow from them.
"In conclusion: the “debt crisis” is a mere phantom — only one of many possible futures, and far from a certainty. The interest America is paying on its debt is currently lowerthan it was in the 1990s, despite a lower debt-to-GDP ratio then. When inflation is factored in, current real interest rates on our debt are negative. Financial markets are willing to pay us to borrow from them.
Meanwhile, every dollar we cut — nay, every dollar we fail to borrow — is a dollar that isn’t going to shore up the safety net, to rebuild the country’s infrastructure, or to support struggling Americans while their livelihoods remain on the line. That we’re passing on this opportunity to repair our country, much less even considering the monstrosity that is the Ryan budget, really is absurd."
3/11/13
True Aim of Deficit Scare-Mongering: To Gut Social Security and Medicare | Common Dreams
True Aim of Deficit Scare-Mongering: To Gut Social Security and Medicare | Common Dreams
"Attacks on entitlement programs and income supports raise a troubling question. Why are conservatives so intent on cutting them? To be sure, there is the general conservative hostility against government spending, and against those they look down on as “dependent” on the government. Entitlements, however, also place a floor under wages and substantially reduce the pain of unemployment. Pulling this floor out from under American workers would almost certainly cause wages to fall precipitously for most working-class people. A cynic might wonder whether this isn’t, after all, the real goal of conservative deficit hawks and their big-business backers."
"Attacks on entitlement programs and income supports raise a troubling question. Why are conservatives so intent on cutting them? To be sure, there is the general conservative hostility against government spending, and against those they look down on as “dependent” on the government. Entitlements, however, also place a floor under wages and substantially reduce the pain of unemployment. Pulling this floor out from under American workers would almost certainly cause wages to fall precipitously for most working-class people. A cynic might wonder whether this isn’t, after all, the real goal of conservative deficit hawks and their big-business backers."
3/8/13
Sequester This! A Story of Sabotage and Theft
Sequester This! A Story of Sabotage and Theft
"The bottom line is the deficit is in sharp decline. The sequester monster has little to do with the deficit or even the debt. And it’s not even really about taxes. That’s a smokescreen. The sequester, and all of the related fiscal “crises,” are really all about sabotaging our government’s ability to function and creating opportunities for private/corporate corruption and pillage."
"The bottom line is the deficit is in sharp decline. The sequester monster has little to do with the deficit or even the debt. And it’s not even really about taxes. That’s a smokescreen. The sequester, and all of the related fiscal “crises,” are really all about sabotaging our government’s ability to function and creating opportunities for private/corporate corruption and pillage."
1/10/13
With Taxes At Record Lows, Multimillionaire Lobbyist Suggests Slashing Health Benefits To Reduce The Deficit
With Taxes At Record Lows, Multimillionaire Lobbyist Suggests Slashing Health Benefits To Reduce The Deficit: During his annual “State of American Business” address on Thursday, U.S. Chamber of Commerce President and CEO Tom Donohue — who made $4.7 million in 2010 alone — called for lawmakers to tackle America’s long-term budget woes by enacting legislation that would slash entitlement spending on Medicare and Medicaid — the public insurance programs that [...]/p
8/29/12
Deficit Hawk Hypocrites | Common Dreams
Deficit Hawk Hypocrites | Common Dreams
"Mitt Romney, Paul Ryan and the Republican Party are now mounting a massive attack against Social Security and other programs. Using "deficit reduction" as their rationale, they are attempting to dismantle every major piece of legislation passed since the 1930s that provides support and security to working families. They are being aided by at least 23 billionaire families, led by the Koch brothers and Sheldon Adelson, who are spending hundreds of millions of dollars in this campaign as a result of the disastrous Citizens United Supreme Court decision. Despite paying the lowest effective tax rate in decades, the billionaires want more tax breaks for the very rich. Despite the fact that the elimination of strong regulations caused the Wall Street meltdown and a terrible recession, the billionaires want more deregulation. Despite outsourcing of millions of good-paying American jobs to China and other low-wage countries, the billionaires want more unfettered free trade."
"Mitt Romney, Paul Ryan and the Republican Party are now mounting a massive attack against Social Security and other programs. Using "deficit reduction" as their rationale, they are attempting to dismantle every major piece of legislation passed since the 1930s that provides support and security to working families. They are being aided by at least 23 billionaire families, led by the Koch brothers and Sheldon Adelson, who are spending hundreds of millions of dollars in this campaign as a result of the disastrous Citizens United Supreme Court decision. Despite paying the lowest effective tax rate in decades, the billionaires want more tax breaks for the very rich. Despite the fact that the elimination of strong regulations caused the Wall Street meltdown and a terrible recession, the billionaires want more deregulation. Despite outsourcing of millions of good-paying American jobs to China and other low-wage countries, the billionaires want more unfettered free trade."
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