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Insider’s Report: Some lawmakers want to drag Social Security into the debt ceiling debate
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In a matter of months, Congress must act to avoid a government default on our financial obligations and to prevent any disruption in sending out Social Security benefit checks. So-called “fiscal hawks” in Congress are once again threatening to drag Social Security into the process of raising the federal debt limit.
Senator Lindsey Graham (SC) recently told Bloomberg that he wouldn’t support raising the debt limit unless special commissions were established to “reform” Social Security and Medicare (translation: “cut benefits”). Senator Graham tried a similar ploy ten years ago when the debt ceiling needed to be raised:
“This is an opportunity to make sure the government is changing its spending ways. I will not vote for the debt ceiling increase until I see a plan in place that will deal with our long-term debt obligations starting with Social Security.” – Senator Graham, 2011
Instead of passing legislation that enables our government to pay for the spending that Congress has already approved, “entitlement reformers” like Senator Graham and others want to resurrect the dreaded “TRUST Act” and use it to exact severe cuts to your earned benefits in exchange for allowing our government to fulfill its financial obligations.
That’s why the National Committee is working to keep the pressure on all members of Congress to reject the “TRUST Act” and prevent Social Security and Medicare from being used as negotiating pawns in the debt negotiations now underway in Congress.
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| Bad Bills |
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The National Committee strongly opposes the "TRUST Act" (S. 1295/H.R. 2575), introduced by Senator Mitt Romney (UT) and U.S. Representative Mike Gallagher (WI-08), which would set up special committees to decide the fate of the Social Security, Medicare and other Trust Funds — all to help pay down the budget deficit. And it could lead to devastating benefit cuts fast-tracked through Congress with minimal public debate.
Of course, many of the same politicians clamoring for the “TRUST Act” are also behind the $1.9 trillion Trump-GOP tax boondoggle that gave a massive tax break to the wealthiest Americans and huge corporations — and exploded federal deficits. That’s why the National Committee is urging Congress to defeat the “TRUST Act” for good and instead pass legislation that strengthens Social Security and Medicare for current and future beneficiaries.
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| Ask Web |
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Our resident Social Security expert, Webster Phillips — a Senior Policy Analyst for the National Committee and a 31-year veteran at the Social Security Administration — is here to answer your questions about Social Security.
You can either search our archives for valuable advice on a broad range of concerns or submit your question here.
This week's question is: My husband and I both worked full time for many years and individually will qualify for close to a maximum benefit. Will we each be able to do that, or is there a maximum payment to married persons that is less than the total they would receive if they were not married?
Click here to read the answer.
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| Take Our Poll |
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Have you or a loved one ever struggled to afford dental care, eyeglasses or hearing aids because Medicare does not include these critical services in its coverage?
Take our poll now!
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Ask Web
Whether you’re currently retired or approaching retirement, we can help answer your questions and provide valuable advice on Social Security. |
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Join Now
Your support sustains our campaigns in Washington to protect and strengthen Social Security and Medicare. |
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Coronavirus
Find valuable information, essential tips and warnings about COVID-19-related scams. |
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| ‘Test Vote’ fails on Senate infrastructure bill; negotiations continue |
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More road work projects will be coming to West Virginia and the rest of the nation if one of the massive infrastructure bills currently in Congress is approved. Right now, there is a serious debate over so-called social infrastructure, including child care and adult home health care. Critics say a Democrat-led bill goes too far. (July 21, 2021, WOWK TV, Mark Curtis (News Report with commentary from NCPSSM President & CEO Max Richtman))
Read More →
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| The Gender Pay Gap and Retirement |
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National Committee Senior Policy Advisor Maria Freese breaks down the reasons why women struggle to obtain financial security in retirement more than men. (July 20, 2021, WHMP, Interview with NCPSSM Senior Policy Advisor Maria Freese)
Listen Here →
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| GOP sees debt ceiling as its leverage against Biden |
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Senate Republicans plan to demand big spending reforms in exchange for their support of legislation to raise the nation’s debt ceiling, seeking leverage to rein in President Biden’s plan to pump trillions of dollars into the economy. (July 26, 2021, The Hill, Alexander Bolton)
Read More →
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| New Medicare expansion would add vision, dental and hearing — could Biden do more? |
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Three of the biggest holes in traditional Medicare will finally be patched up if President Joe Biden succeeds in selling his $3.5 trillion budget bill. Last week, a group of Democratic senators agreed on a spending plan that would — among many other things — make vision, hearing and dental coverage a standard part of Medicare. (July 22, 2021, Yahoo! Finance, Sigrid Forberg)
Read More →
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| Four senators call on Becerra to back importation of prescription drugs from Canada |
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A bipartisan group of four senators requested Health and Human Services Secretary Xavier Becerra’s support to allow less costly prescription drugs to be imported from Canada. Sens. Amy Klobuchar (D-Minn.), Chuck Grassley (R-Iowa), Angus King (I-Maine) and Susan Collins (R-Maine) sent a letter to the secretary on Monday asking him to back policies permitting states and tribes to import certain prescription drugs from Canada. (July 27, 2021, The Hill, Justine Coleman)
Read More →
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