The new Obama Social Security benefit: A free begging cup! Obama will save Social Security by taking it away from old people and the disabled.
This week, the so-called Gang Of Six (senators Dick Durbin, Mark Warner, Kent Conrad, Saxby Chambliss, Tom Coburn and Mike Crapo) introduced a plan to reduce the federal budget deficit.
The plan would slash Medicare by a third of a trillion dollars. It would require Social Security benefits to be reduced through cost of living adjustments that would cut off between 500 and 1,000 dollars in an initial phase, and then require additional Social Security cuts in a second phase.
There would be no tax increases to balance these cuts.
On the contrary, the Gang of Six plan would cut taxes paid by corporations and wealthy Americans by more than one and a half trillion dollars – thus requiring even more cuts in Social Security, Medicare, education, science and alternative energy programs.