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Donald Payne Jr. on Social Security
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No privatized options for Social Security or Medicare
I will never compromise one dime on Social Security and Medicare. Extremist Republicans in Congress have declared war on Seniors, using the Jobs Crisis and the down economy, both of which President Obama inherited from
George W. Bush, as a ruse to pursue their long-planned goals to end both Social Secuity and Medicare and replace them with privatized coupons. I will fight to not only maintain the integrity of both systems, but
I intend to find ways to expand both systems.Strengthening Social Security: Tea Party extremists want you to believe that the whole system is inches from collapse. In reality, the system will be safe for decades if
Congress insists that the wealthy to pay their fair share. I support raising or removing the "ceiling," above which the wealthy do not have to pay into Social Security.
Source: 2012 House campaign website, ngpvanhost.com
, Nov 6, 2012
Sponsored keeping CPI for benefits instead of lower "Chained CPI".
Payne co-sponsored Resolution on CPI
CONCURRENT RESOLUTION expressing the sense of the Congress that the Chained Consumer Price Index (CPI) should not be used to adjust Social Security benefits.
- WHEREAS the Social Security program continues to provide modest benefits--averaging approximately $14,000 per year--to more than 53,000,000 individuals
- WHEREAS the Trust Fund can pay full benefits through 2032;
- WHEREAS the Social Security program is designed to ensure that benefits keep pace with inflation through cost-of-living adjustments based on the CPI which measures prices of goods and services;
- WHEREAS the Chained CPI adjusts for projected changes in consumer behavior resulting from price fluctuations known as the 'substitution effect', which occurs when consumers buy alternative goods and services whose prices are rising more slowly than average;
- Now, therefore, be it RESOLVED that the Chained CPI should not be used to calculate cost of living adjustments for
Social Security benefits.
Opponent's argument against bill:(Congressional Testimony by Jeffrey Kling, Congressional Budget Office Associate Director for Economic Analysis, April 18, 2013):
The chained CPI grows more slowly than the trad
Source: H.CON.RES.34 & S.Con.Res.15 13-HCR34 on Apr 18, 2013
Page last updated: Jan 27, 2017