The way some legislators talk, you get the idea that Social Security and Medicare are little more than just numbers in a budget. Yet for families all over America, Social Security and Medicare have a deeper meaning: They are the very foundation of retirement security. Social Security and Medicare enable millions of older Americans to survive financially each month, after years of working hard and paying taxes to earn these protections.
With the December 31 st deadline to address expiring tax and spending cuts looming, many people across the nation and here in Idaho are left wondering what Washington’s budget debate means for them. Unfortunately, some in Washington are considering making changes to Medicare and Social Security through a year-end budget deal. AARP is providing a breakdown of the impact a shortsighted budget deal could have on the health and retirement security of Idaho seniors and their kids and grand-kids.
AARP Executive Vice President Nancy LeaMond has reiterated the Association’s opposition to including a cut to the benefits of current and future Social Security recipients as part of a year-end budget deal via a formula change known as Chained CPI. She offered the following statement:
About half of Michiganders who answered a recent AARP questionnaire on the future of Medicare and Social Security said some changes are needed to keep these important programs stable but major reforms aren’t required for a few years.