Social Security

Budget Gridlock Feeds Pessimism at Annual Fiscal ‘Summit’

Posted on 05/8/2013 by | General News | Comments

Bulletin Today | PoliticsBy Andrew Taylor, The Associated Press WASHINGTON (AP) — On this, some of Washington’s highest-ranking budget players can agree: A “grand bargain” this year to close the nation’s chronic budget deficits seems like a long shot. That was the consensus at an annual Washington “fiscal summit” thrown by billionaire deficit hawk Pete Peterson, who’s staked $1 billion of his fortune on a foundation aimed at raising public awareness of the dangers of the government’s growing debt. But barely 100 days into …

People Try to Put Us Down – Talking About All Generations

Posted on 05/6/2013 by | AARP Media Relations Team | Comments

Home & Family | Money & Savings | PoliticsIn Nancy Altman’s 2005 book The Battle for Social Security: From FDR’s Vision to Bush’s Gamble, she opens with the story of how after 9/11 “the families of virtually every worker who perished that day were entitled to benefits under the program.” In millions of conversations AARP held in 2012, Americans said they want Social Security and Medicare to be there for their children and grandchildren.  And for millions of children, Social Security is the only thing that stands between …

Women Face Tough Challenges in Retirement … But Can Overcome Them!

Posted on 04/30/2013 by | AARP Blog Author | Comments

Public Policy Institute | WorkThe writer Oscar Wilde said “When I was young I thought that money was the most important thing in life; now that I am old I know that it is.” This is a great insight into how vital money can be at older ages — when we have a much more difficult time earning money or just can no longer work. A recent report from AARP’s Public Policy Institute, An Uphill Climb: Women Face Greater Obstacles to Retirement Security, highlights …

The Walk to Walden’s Woodshed and Other Contradictions in the Obama Budget

Posted on 04/24/2013 by | AARP Media Relations Team | Comments

PoliticsIt’s news these days that the President has dinner with members of Congress. Had President Obama enjoyed more meals or even an occasional beverage with some members of Congress in both parties, he might have found out that putting the Chained CPI in his budget could derail his entire legislative agenda because of the passions roused in both Democrats and Republicans against the proposal.     One of the key messages coming from the White House when the President’s usual …

Congress Nibbles at Obama’s Budget

Posted on 04/18/2013 by | Washington Watch | Comments

Bulletin Today | PoliticsNow it’s Congress’ turn. Last week President Obama made his budget proposal, and lawmakers on Capitol Hill already have begun trying to bend it to their will. On April 18, in fact, the House Ways and Means Committee will take up one of the most controversial pages in the budget book: the proposal to change the way that benefits under Social Security and other federal programs are adjusted for inflation. The “chained consumer price index,” or chained CPI, would mean …

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 …

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