President Obama's Proposed Budget is Disappointing

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Steelworkers Organization of Active Retirees (SOAR)

Apr 10, 2013, 04:32 ET

Nation's Debt Should Not Be Balanced on Backs of Seniors

PITTSBURGH, April 10, 2013 /PRNewswire-USNewswire/ -- The following statement was issued today by Jim Centner, Director of the Steelworkers Organization of Active Retirees (SOAR):

President Obama's budget proposal released today is disappointing. While we acknowledge that it does not change the Medicare eligibility age, it still targets those most vulnerable in our society.

Cuts to Social Security cost-of-living adjustments (COLAs) and to Medicare programs places the burden of our nation's debt unfairly on the back of seniors.

The proposed chained CPI formula to determine Social Security COLA benefits will mean an immediate, and long-lasting, benefit cut for millions of Social Security beneficiaries, including seniors, veterans, people with disabilities and others.

Social Security has not contributed a single penny to the federal deficit. The program is funded by workers' and employers' contributions and should be excluded from any budget discussion.

SOAR members are troubled by the inclusion of the chained CPI in the President's budget. Using the chained CPI to cut Social Security COLA benefits in the name of deficit reduction wrongly burdens those that can least afford it.

CONTACT:
Jim Centner (412) 562-2575
[email protected]

SOURCE Steelworkers Organization of Active Retirees (SOAR)