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View Diary: The semi annual Omigod Obama is cutting social security show (51 comments)

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  •  Depends on income and age (11+ / 0-)

    If Social Security is your main source of income, and you live into your nineties, it's not tiny.

    It's a cut, a mean thing to do to old people and veterans, and totally illogical since Social Security has nothing to do with the deficit.

    We can safely abandon the doctrine of the eighties, namely that the rich were not working because they had too little money, the poor because they had too much. JK Galbraith, 1991

    by Urban Owl on Fri Apr 05, 2013 at 06:18:38 AM PDT

    [ Parent ]

    •  Yeah, some small fraction of recipients will (2+ / 0-)
      Recommended by:
      lcj98, samddobermann

      actually feel the impact in a material way. It would be easy for those people to have some built-in protections as part of the negotiation process. There are also many recipients who wouldn't feel this change at all, recipients who have earned SS but don't really need it. And then there's the majority - retirees who will notice the difference (especially after a decade or so of compounded effects - but for whom it will not affect their lives materially. If they just added a few protections for people who hit 90 (such as a one-time adjustment to account for the impact of chained CPI) or who run out of money outside of Social Security it would not be that costly and it would be a way of sneaking a form of mild means-testing into the system.

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