Republicans want to dismantle SS - The Center on Budget and Policy Priorities called the rule an “attempt to pit retirement and disability beneficiaries against each other” that misrepresents how the two funds operate, and pointed out that the only reason SSDI is in funding trouble next year is that it got short-changed by the past two reallocations of funding between disability and retirement benefits. Sen. Elizabeth Warren (D-MA) accused the GOP of “inventing a Social Security crisis that will threaten benefits for millions & put our most vulnerable at risk.” Sen. Sherrod Brown (D-OH) called it “a dangerous new rule” that will “set the stage to cut benefits for seniors and disabled Americans,” and pointed out that reallocating funds between the accounts is so uncontroversial that President Reagan oversaw four of the 11 times it has been done in the past. Rep. Tom Reed (R-NY), who is taking credit for engineering the rules change, has received significant campaign financing from at least one well-heeled conservative supporter of cutting Social Security. Reed has gotten over $134,000 in contributions from people tied to vulture capitalist Paul Singer’s firm Elliott Management, according to the Center for Responsive Politics. Singer is most famous for his battle to force the nation of Argentina to prioritize debt payments to Elliott Management over public expenditures for its 41 million citizens. But the generous Republican donor is also a sharp critic of American government spending and has called for cutting benefits in Social Security, Medicare, and Medicaid. read more: thinkprogress.org/economy/2015/01/07/3608887/social-security-disability-reallocation/
Posted on: Thu, 08 Jan 2015 19:17:51 +0000
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