April 16, 2011

2012 Republican Plan: Social Security COLA

House Republicans released a budget proposal for 2012 that does not contain specific provisions for modifying Social Security in 2012.

Social Security changes are becoming an inevitability, though unnecessary cuts are not part of the immediate plan, according to Obama during a recent statement regarding the national deficit. However, citing the intention to avoid slashing payments to citizens, the President stopped short of confirming there would be no reductions across the board.

Instead, Obama went on to state how the current situation required the country to lay all cards out on the table in order to construct an effective and workable plan to tackle mounting debt. Ultimately, the current target set by the governments is to reduce the deficit by no less than $4 trillion over the next twelve year. Of course, such a vast amount of capital has to be sourced from somewhere.

The statement comes as a number of Democrats have joined Republicans in their calls for modifications to the current program, despite their liberal base crying out for the full and total protection of social security.

Obama stated that a considerable number believe reforms to Social Security, Medicare or Medicaid should not be made in fear that even discussing such changes would incite a radical response. While fully understanding the concerns, Obama also continued to indicate that if no changes were made at all, it would simply be impossible to continue caring for American seniors as life expectancy continues to grow alongside healthcare costs.

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