NCPSSM: Here they go again: the Latest Bowles Simpson Proposal tells Seniors “Pay More and Get Less”

John William Springs, a retiree who gets nearly $12,000 a year in Social Security and disability checks, is $1,300 above the poverty threshold: officially, not poor.

The latest Bowles-Simpson plan to tackle the nation’s debt offers nothing more than a repackaged proposal to cut to Social Security, Medicare and Medicaid through measures such as the chained CPI, means testing Medicare and raising the eligibility age. Yet, America’s seniors, the disabled, veterans and their families have already rejected these proposals through hundreds of thousands of petitions, letters and phone calls to Congress and the White House. 

Their plan once again calls for cuts that are out of sync with middle class American’s priorities. Adopting the chained CPI, as Bowles Simpson propose, would mean an immediate benefit cut of $130 per year for the typical 65-year old retiree and would grow exponentially to a $1,400 cut after 30 years of retirement. This chained CPI proposal isn’t a “tweak” or an “adjustment,” it’s designed to cut benefits and raises taxes, largely on the poor and middle class, totaling $208 billion over ten years.  $112 billion of those benefits cuts come from Social Security alone with up to $24 billion coming from VA benefits and civilian and military retirement pay cuts. That’s a lot of money…out of the pockets of those who can least afford to sacrifice even more.  

In poll after poll, Americans have told Washington’s leaders that they want common sense reforms to our nation’s fiscal mess, but they don’t support any plans, including Bowles Simpson,  that would cut the lifeline to the benefits they’ve worked hard to earn and depend upon.” …Max Richtman, NCPSSM President/CEO

For more articles like this visit: www.ncpssm.org

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  • LAAAC is managed by St. Barnabas Senior Services; Funded, in part, by Archstone Foundation.
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