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No major changes to Social Security (including SSI and SSDI) in Obama budget plan
In response to the Republican's budget plan, (covered in a recent blog post), President Obama laid out his own proposal for cutting the nation's deficit at an April 13 speech at George Washington University.
The Obama plan calls for a mix of spending cuts and revenue increases which roughly translates into $3 in spending cuts for every $1 in tax increases. The Republican proposal calls for more dramatic cuts with no tax increases.
In terms of Social Security, including Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI), the Obama plan calls for no cuts, whereas the Republican plan calls for trimming the SSI budget back to 2007 revenue levels, and providing states with block grants to administer at their own discretion. No funds would be provided directly to individuals.
The Republican Plan also calls for gradually raising the Social Security retirement age to 70 over the next 10 years.
Many people who receive Social Security also receive Medicare. Obama did not call for any major changes to that program, while the Republican plan calls for raising the eligibility age and converting the program to one which provides seniors with vouchers to pay for private insurance.
The Obama Administration has argued that efficiencies from the health care reform act passed last year would help bring Medicare costs under control. The Republican's have called for eliminating the health care reform entirely, calling it a "job killer.â€
The Obama Plan also calls for Congress to trim another $770 billion in non-security, discretionary costs, including agriculture subsidies, as well as $400 billion in security expenditure. Tax increases would include an end to the so-called "Bush era tax cuts" for the top 2 percent of US wage earners.
Republicans have called any tax increases a non-starter.
House Budget Committee Chairman Paul Ryan, R-Wisc., called the plan outlined by Pres. Obama "excessively partisan, dramatically inaccurate and hopelessly inadequate to address our fiscal crisis.â€
In his speech, Obama had some equally unflattering things to say about the Republican Plan.
"Their vision is less about reducing the deficit than it is about changing the basic social compact in America. I will not allow Medicare to become a voucher program that leaves seniors at the mercy of the insurance industry with a shrinking benefit to pay for rising costs.â€
If you are disabled and plan to apply for Social Security Disability Insurance (SSDI) in North Carolina or Supplemental (Social) Security Income (SSI) in North Carolina — or if you've applied previously and been denied NC Social Security disability benefits — the Law Offices of James Scott Farrin may have the resources you need to help with your NC Social Security disability claim. Call the Law Offices of James Scott Farrin for assistance — 24-hours-a-day, 7-days-a week — at 1-866-900-7078, or visit us on the Web at www.Farrin.com. The firm is headquartered in Durham with 12 additional offices statewide. This gives you access to a Social Security disability lawyer in Rocky Mount, NC, Charlotte, Fayetteville, Goldsboro, Greensboro, Greenville, Henderson, New Bern, Raleigh, Sanford and Wilson.
SOURCE: The News and Observer (NC)