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Jeff Merkley on Social SecurityDemocratic Jr Senator (OR) |
Smith said he encourages Americans to save more as a way to better prepare for retirement and add to the benefits received under Social Security. He took issue with Merkley for suggesting he wanted to do away with Social Security
CONCURRENT RESOLUTION expressing the sense of the Congress that the Chained Consumer Price Index (CPI) should not be used to adjust Social Security benefits.
Opponent`s argument against bill:(Congressional Testimony by Jeffrey Kling, Congressional Budget Office Associate Director for Economic Analysis, April 18, 2013):
The chained CPI grows more slowly than the traditional CPI does: an average of about 0.25 percentage points more slowly per year over the past decade. As a result, using that measure to index benefit programs would reduce federal spending for Social Security, federal employees’ pensions, Medicare, Medicaid, and various other programs. For example, if such a proposal took effect next year, Social Security benefits would be roughly $30 a month lower, on average, by 2023 than they would be under current law, representing a reduction of about 2 percent of average benefits. In addition, indexing tax provisions with the chained CPI would increase revenues.
Scoring system for 2014: Ranges from 0% (supports privatization and other market-based reforms) to 100% (supports keeping federal control over Trust Fund and Social Security system).
About ARA (from their website, www.RetiredAmericans.org):
The Alliance for Retired Americans is a nationwide organization, founded in May 2001, with now over 4.2 million members working together to make their voices heard in the laws, policies, politics, and institutions that shape our lives. The mission of the Alliance for Retired Americans is to ensure social and economic justice and full civil rights for all citizens so that they may enjoy lives of dignity, personal and family fulfillment and security.