Social Security and Hispanic Americans and more...

Social Security and Hispanic Americans

Social Security protects millions of American families in retirement or when a loved one becomes disabled or dies.  These guaranteed benefits are especially important to people of color who tend to have fewer alternative resources, become disabled at higher rates, and rely on Social Security's family benefits disproportionately. As we mark Hispanic Heritage month in September it’s important to understand the vital role Social Security plays in the lives of Hispanic Americans. Did you know? Almost three-fourths (74%) of Hispanic beneficiaries rely on Social Security for at least half their income compared to almost two-thirds (64%) of all beneficiaries. Approximately 53% of Hispanic beneficiaries rely on Social Security for 90% or more of their income. Approximately 46% of Hispanic beneficiaries rely on Social Security for all of their income. Minorities rely more heavily on Social Security due to a lack of other income in retirement.  Few elderly minorities receive inco ...

     

 

 

Why a Medicare Flat Line is Good News for Seniors

While a flat line in the medical world is usually bad news...when it comes to health care costs in Medicare, this flat line is a good thing.  We reported earlier on the latest Congressional Budget Office forecast for Medicare and why that news is being ignored by Washington’s well-financed anti-entitlement lobby and the fiscal hawks they support in Congress.  Today, the New York Times provides even more good news for Medicare and bad news for anti-Social Security and Medicare scolds: “Medicare spending isn’t just lower than experts predicted a few years ago. On a per-person basis, Medicare spending is actually falling. If the pattern continues, as the Congressional Budget Office forecasts, it will be a rarity in the Medicare program’s history. Spending per Medicare patient has almost always grown more rapidly than the economy as a whole, often by a wide margin.”   For years now, Wall Street funded fiscal hawk groups have been promising fiscal Armageddon ...

     

 

 

Good News for Seniors in Medicare That You Won’t Hear About from Conservatives

In spite of years and years of doom-and-gloom predictions from conservatives that Obamacare will hurt Medicare, the facts just continue to tell another, very different story.  Earlier in the month the annual Medicare Trustees report showed how the ACA continues to extend the program’s solvency.  Now, the Congressional Budget Office has even more to say: “You’re looking at the biggest story involving the federal budget and a crucial one for the future of the American economy. Every year for the last six years in a row, the Congressional Budget Office has reduced its estimate for how much the federal government will need to spend on Medicare in coming years. The latest reduction came in a report from the budget office on Wednesday morning. The changes are big. The difference between the current estimate for Medicare’s 2019 budget and the estimate for the 2019 budget four years ago is about $95 billion. That sum is greater than the government is expected to spend that year o ...

     

 

 

When Privatize Means Protect and Slash Means Save - the 2014 Campaign Continues

It must be campaign season! GOP candidates, under Karl Rove’s tutelage, have doubled-down on their Medicare and Social Security dodge and deflect strategy. The heart of this political strategy is to avoid talking about GOP candidates’ true plans for Social Security and Medicare while simultaneously portraying their opponents as the “enemies of seniors.” Greg Sargent offers this perspective: “It is remarkable to watch Rove’s group try to position multiple Democratic Senators as the real threat to social insurance for the elderly, for the third straight cycle — and even more intriguingly, to use Simpson Bowles to do so. After all, Simpson Bowles is still widely treated as a paragon of unimpeachable fiscally responsible centrism, and Dems have long been pilloried by Beltway fiscal scold types for refusing to embrace its sanctified prescriptions for deficit reduction. Indeed, this sort of Crossroads rhetoric should outrage fiscal conservatives. As Philip Klein put ...

     

 

 

What Do Swatting Mosquitos and Cutting Social Security Have in Common?

John Nichols at The Nation has this week’s must-read story on Rep. Paul Ryan’s never-ending quest to cut Social Security benefits.  Nichols has read Ryan’s new book (so we don’t have to) and provides this analysis: The well-regarded second-term congressman met with Vice President Dick Cheney, who was at the peak of his co-presidency powers. Like Cheney in his younger years, Ryan was a former congressional aide who had worked the conservative think-tank circuit before getting himself elected to the House. The Washington insiders should have gotten on famously. But the vice president was not buying what the man, who is now described as “the intellectual leader of the Republican Party,” was selling. Ryan recalls the meeting this way: “The surplus has given us a huge opportunity,” I explained. “If we dedicate the Social Security surplus to reform, we can shore up the program and end the raid on the trust fund.” I talked about the opportunity t ...

     

 

 

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