budget

Will the Fiscal Crisis Ensnare Social Security and Medicare?

Posted on 10/9/2013 by | Washington Watch | Comments

Bulletin Today | PoliticsNot again. It looks as if cuts in Social Security and Medicare may soon be pulled into the budget battles now under way on Capitol Hill. In an op-ed piece in today’s Wall Street Journal titled “Here’s How We Can End This Stalemate,” House Budget Committee Chairman Paul Ryan (R-Wis.) describes changes in the two programs as “vital.” Sign up for the AARP Money Matters newsletter “Let’s negotiate an agreement to make modest reforms to entitlement programs and the tax code,” …

Medicare: Time for a Reality Check?

Posted on 09/19/2013 by | Washington Watch | Comments

Bulletin Today | PoliticsThe public’s view of Medicare doesn’t match reality, according to an analysis of six polls by the New England Journal of Medicine, which says that the “wide gap in beliefs between experts on the financial state of Medicare and the public at large” could end up affecting the ongoing battle over the federal budget. Here are some of the chief disconnects: Although Medicare spending has been rising at slower rates during the past five years, 62 percent of Americans think just …

Congressional Budget Experts Predict More Red Ink

Posted on 09/19/2013 by | Washington Watch | Comments

Bulletin Today | PoliticsThe nonpartisan Congressional Budget Office has just published its 2013 Long-Term Budget Outlook, and this year’s set of predictions for the nation’s balance sheet is sure to push Washington’s heartburn rate up a few notches. Three quick takeaways from the CBO’s report: The percentage of federal debt held by the public is higher than at any point in modern U.S. history. Federal debt held by the public is likely to decline a little bit over the next few years, as …

Life@50+ Is a Sure Winner

Posted on 06/3/2013 by | The Ultimate Cheapskate | Comments

Money & SavingsI’ve never been a gambler, but I just returned from Las Vegas where a $25 bet netted people a big-time jackpot. No, I didn’t temporarily lose my miserly mind in the heat of the Nevada desert and roll the dice in some swanky Vegas casino. I’m way too cheap to tell people to throw away good money like that. I’m talking about a mere $25 for the cost of admission to the three-day AARP Life @50+ National Event held at …

Why the Chained CPI is Wrong for Social Security

Posted on 04/11/2013 by | AARP Blog Author | Comments

PoliticsYesterday, the President included Social Security cuts in his budget through a proposal called the “chained CPI”. Let’s take a minute and break down exactly what that means: The chained CPI would modify the way the cost-of-living-adjustment (COLA) for Social Security is calculated, cutting benefits by $127 billion dollars over the next 10 years alone. That comes out to over $2000 in lost benefits for the average senior. Some have tried to defend this unprecedented inclusion of Social Security benefit …

Illinoisans Detest President Obama’s Chained CPI Budget Proposal

Posted on 04/5/2013 by | All the news that matters for Illinoisans over 50. | Comments

PoliticsIf Chained CPI is included in the President’s budget proposal, as is being reported today, President Obama is laying out a clear marker that he is willing to cut Social Security and other benefits to balance the budget, which breaks a promise he made when he was elected to office.  On September 6, 2008, Senator Barack Obama told AARP members: ”John McCain’s campaign has suggested that the best answer for the growing pressures on Social Security might be to cut cost of …