At a Social Security forum today, the impact the deficit would have on Social Security and Medicare was discussed. The outlook is not good. They are considering raising the age you qualify, cutting payments by 3% as you get older, just when needs are higher, so that if you live long, you could have a 12% cut.

Congresswoman Fudge said that the wars are not on the balance sheet at all but are funded, the Bush tax cuts about equal the deficit, if the cap on Social Security/Medicare payments was raised or eliminated, Social Security would be solvent as far into the future as anyone can see. Today, younger workers fear that they will pay into the fund but there will be little or nothing for them when they retire. If the cap is removed, they would have nothing to worry about.  

The average Social Security payment per year is $14,000. So women, people with less education, minorities get less. Who can live on that? Could our congressmen? Yet they want these people to have their income cut while the rich keep the tax cuts and pay a minute percentage of their income to Social Security.

They call it an entitlement program, but it is an insurance program that workers have paid into. Social Security has an administrative cost below 1%. The insurance companies (who contribute to politicians' campaigns) have costs far above that.

Before Social Security, more than 50% of the elderly lived in poverty. Today, it is less than 10%, a percentage that is still shameful.

I was interested to learn that Senator Portman was asking for our input as to how we think the deficit should be handled. I haven't seen any emails about it, so a speaker sent me one she received from MoveOn.Org:

Ohio Senator Rob Portman has been appointed to the congressional "super committee" that will set the stage for our national economic discussion.1 He will wield enormous influence on issues like job creation, increasing tax rates on corporations and the wealthy so that they pay their fair share, and cuts to programs like Social Security.

Now Senator Portman is asking Ohioans to let him know on his website how you want to reduce the federal deficit.

Tell him you want jobs not cuts, an end to corporate tax loopholes, and higher taxes for millionaires and billionaires.

The best way to deal with the deficit is to get the economy growing again—and that means creating more jobs, and better jobs. America needs a major jobs plan that puts people back to work rebuilding our infrastructure, and we can pay for it by making corporations and the super-rich pay their fair share.2 Cuts to Social Security, Medicare, and Medicaid benefits should be off the table in any budget negotiations—the middle class has already sacrificed enough.

Sources:

1. "Ohio U.S. Sen. Rob Portman named to special debt-reduction committee," The Cleveland Plain Dealer, August 10, 2011
http://www.moveon.org/r?r=263517&id=30412-9386092-BJYR67x&t=4

2. "Jan Schakowsky Announces New Budget Plan With Focus On Jobs," The Huffington Post, August 10, 2011
http://www.moveon.org/r?r=263135&id=30412-9386092-BJYR67x&t=6

You may have a different idea than those discussed in the email. I want the Bush tax cuts rescinded, the cap on Social Security removed entirely, all wars to be accounted for within the budget so we can see their cost.

You can call Senator Portman at 216-522-7095.