Senate Opposes Cuts to Social Security – Veterans Benefits

0
569

WASHINGTON, March 22 – The Senate tonight voted to block cuts in benefits for Social Security and disabled veterans.

The amendment by Sen. Bernie Sanders (I-Vt.) put the Senate on record against changing how cost-of-living increases are calculated in a way that would result in significant cuts.

“The time has come for the Senate to send a very loud and clear message to the American people: We will not balance the budget on the backs of disabled veterans who have lost their arms, their legs and their eyesight defending our country. We will not balance the budget on the backs of the men and women who have already sacrificed for us in Iraq and Afghanistan, nor on the widows who have lost their husbands in Iraq and Afghanistan defending our country,” Sanders said.

The amendment opposed switching from the current method of measuring inflation to a so-called chained consumer price index. President Barack Obama favors a chained CPI as part of what the White House calls a “grand bargain” that Obama hopes to reach with congressional Republicans.

The proposed change would affect more than 3.2 million disabled veterans receiving disability compensation benefits from the Department of Veterans Affairs. Veterans who started receiving VA disability benefits at age 30 would have their benefits reduced by $1,425 at age 45, $2,341 at age 55 and $3,231 at age 65. Benefits for more than 350,000 surviving spouses and children who have lost a loved one in battle also would be cut. Dependency Indemnity Compensation benefits already average less than $17,000 a year.

More than 55 million retirees, widows, orphans and disabled Americans receiving Social Security also would be affected by the switch to a chained CPI. That figure includes 9 million veterans with an average yearly benefit of about $15,500. A veteran with average earnings retiring at age 65 would get nearly a $600 benefit cut at age 75 and a $1,000 cut at age 85. By age 95, when Social Security benefits are probably needed the most, that veteran would face a cut of $1,400 – a reduction of 9.2 percent.

A chained CPI would cut Social Security benefits for average senior citizens who are 65 by more than $650 a year by the time they are 75 years old, and by more than $1,000 once they reach 85.

Groups supporting Sanders include AARP, the AFL-CIO, National Organization for Women, the American Legion, Veterans of Foreign Wars, Disabled American Veterans, AMVETS and others.





Sanders is chairman of the Senate Committee on Veterans’ Affairs and the founder of the Defending Social Security Caucus.

 

Contact: Michael Briggs (202) 224-5141

Author Details
G M
This is a general posting account for VT
ATTENTION READERS
Due to the nature of independent content, VT cannot guarantee content validity.
We ask you to Read Our Content Policy so a clear comprehension of VT's independent non-censored media is understood and given its proper place in the world of news, opinion and media.

All content is owned by author exclusively. Expressed opinions are NOT necessarily the views of VT, other authors, affiliates, advertisers, sponsors, partners or technicians. Some content may be satirical in nature. All images within are full responsibility of author and NOT VT.

About VT - Read Full Policy Notice - Comment Policy