Are your parents or grandparents retired? If so, you have a big stake in the Nov. 6 election. Medicare and Social Security are on the table for budget cutting. As a matter of fact, Senate Leader Mitch McConnell (R) has said the present budget deficit is “driven by the three big entitlement programs that are very popular: Medicare, Social Security and Medicaid.” According to McConnell, these programs are the problem and must be “reformed.” That’s another word for cutting their budgets or privatizing them.
These programs were created to keep seniors out of poverty and provide healthcare to them in their aging years. All of us Americans have paid into these programs during our working years so that they might provide for us during our retirement years. Both programs have been very successful in providing for seniors. But the Republican Senate and House are determined to cut these programs and perhaps privatize them so that Wall Street and insurance companies can make a profit from them, all in the name of reducing the ballooning deficit (which they created).
Keep in mind that since Trump and the GOP have controlled the presidency and Congress, the debt has doubled and it is growing rapidly. The deficit has grown from $548 billion in fiscal year 2016 to $985 billion in fiscal year 2019, and it is growing every day even during these non-recessionary times. The recent huge tax cuts for the wealthy and corporations have not paid for themselves and likely won’t.
This ballooning debt is not the fault of Social Security and Medicare. These programs have remained stable because of fiscally disciplined management. In fact, the Social Security Administration expects Social Security “to be payable in full on a timely basis until 2037, when the trust fund reserves are projected to become exhausted. At the point where the reserves are used up, continuing taxes are expected to be enough to pay 76 percent of scheduled benefits (from the SSA website). In fact, Medicare will be able to fund Part A health care expenses for beneficiaries through 2028, and the program can adjust for inflation and increase deductions to fund the program well into the 2030 decade.
These programs are not in crisis! In fact, there are many reform efforts being proposed in committee, reforms that serve the needs of the middle class and working people who rely on these programs. Social Security and Medicare must not be cut to provide tax cuts for the wealthy who don’t need these vital programs.
Again, these programs are NOT responsible for the acceleration in the national debt. The recent huge tax cuts for the wealthy and corporations, along with fiscal mismanagement by the President and the Republican Congress, are responsible for the alarming rise in the deficit.
Social Security and Medicare were created by Democrats. They have been defended over the years by Democrats. If you want to preserve them, I recommend you vote for Democrats this Nov. 6th.
Editor’s Note: This originally appeared in the Central Virginian and has been re-posted here with the author’s permission
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