The Arkansas Democratic Party is hitting Tea Party Congressman Tom Cotton (R. AR), who is running for U.S. Senate, on his record on voting to cut Social Security:
Congressman Cotton Misleads Hot Springs Patients on Social Security
On Friday, Congressman Cotton was in Hot Springs visiting DaVita Hot Springs Dialysis. While he was there, he told a whopper.
From the Hot Springs Sentinel Record:
Answering a question as to whether he favored cutting Social Security, Cotton said he was not in favor of doing that.
"What we need is to protect Social Security for people who are on it today, or are approaching it.” [Hot Springs Sentinel Record, 2/1/14]
There’s no way around it: Congressman Cotton lied about his support for cuts to Social Security for seniors who depend on it today and for future beneficiaries.
Congressman Cotton was the only member of the Arkansas Congressional delegation to vote for the Republican Study Committee budget. This reckless budget would use a chained CPI to calculate cost-of-living-adjustments and result in hundreds of dollars in reduced benefits for current Social Security beneficiaries.
According to AARP, “chained CPI would take approximately $340 billion dollars out of the pockets of current and near retirees, working families, veterans and the disabled, as well as the local economies in which they live, in the next 10 years alone.”
Congressman Cotton has voted to cut Social Security benefits, plain and simple. He supports using chained CPI to calculate Social Security, which would cut Social Security for current beneficiaries.
It’s an inconvenient truth, but the truth nonetheless. Congressman Cotton can try and run from his record, but he won’t be able to hide it from Arkansans.
Background:
COTTON VOTED TO CUT SOCIAL SECURITY BENEFITS
Cotton Was the Only Member Of The Arkansas Delegation To Vote for Republican Study Committee Budget That Transformed Medicare Into Voucher System, Raised the Eligibility Age For Medicare To 70 And Cut Social Security Benefits. In 2013, Cotton voted for the Republican Study Committee budget that “would assume the transformation of Medicare into a premium support program that would compete against private plans.” According to the Committee for a Responsible Federal Budget, the budget “transitions Medicare to a premium support system by 2019 for new beneficiaries, and raises the Medicare retirement age to 70 and indexes it to life expectancy… Unlike other budgets, [Republican Study Budget] also addresses Social Security specifically by switching to the chained CPI for cost-of-living adjustments and increasing the full retirement age to 70 and indexing it for life expectancy.” According to the AARP, “Changing the cost-of-living adjustment (COLA) using a chained CPI would have a detrimental impact on the economic wellbeing of older and disabled Americans and their family members who receive benefits from Social Security. Small reductions to the annual COLA will accumulate over time so that the largest reductions in benefits will be on the oldest beneficiaries and the long-term disabled. For example, 92- year-old beneficiaries who were on the program for 30 years would see an 8.4% cut in benefits. Disabled children could face even larger benefit cuts over their lifetime. Oldest Americans are the least able to absorb cuts to their benefits as they are more reliant on Social Security for their income and have higher out-of-pocket medical spending and a higher poverty rate than younger Americans.” The budget was rejected by a vote of 104-132. [CQ; H Con Res 25, Vote #86, 3/20/13; Committee for a Responsible Federal Budget, 3/19/13; AARP, October 2012]
Difference in Benefits for Average Earner Retiring in 2011 at Age 65
(in constant 2011 dollars)
[Strengthen Social Security, Chained CPI Factsheet, 2011]
CHAINED CPI IS A “SIGNIFICANT BENEFIT CUT” TO SOCIAL SECURITY
AARP: “Although Many Have Attempted To Characterize The Chained CPI As A Minor Tweak, It Is In Fact A Significant Benefit Cut That Snowballs Over Time.” According to AARP, “Although many have attempted to characterize the chained CPI as a minor tweak, it is in fact a significant benefit cut that snowballs over time. The adoption of chained CPI would take approximately $340 billion dollars out of the pockets of current and near retirees, working families, veterans and the disabled, as well as the local economies in which they live, in the next 10 years alone. Specific to Social Security, the chained CPI cuts benefits by $127 billion over the next 10 years.” [AARP, 8/12/13]
HEADLINE—AARP To Ways And Means: Chained CPI Is Less Accurate And A Significant Social Security Benefit Cut [AARP, 8/12/13]
AARP: “Chained CPI Would Take Approximately $340 Billion Dollars Out Of The Pockets Of Current And Near Retirees, Working Families, Veterans And The Disabled.” According to AARP, “Although many have attempted to characterize the chained CPI as a minor tweak, it is in fact a significant benefit cut that snowballs over time. The adoption of chained CPI would take approximately $340 billion dollars out of the pockets of current and near retirees, working families, veterans and the disabled, as well as the local economies in which they live, in the next 10 years alone. Specific to Social Security, the chained CPI cuts benefits by $127 billion over the next 10 years.” [AARP, 8/12/13]
AARP: “Specific To Social Security, The Chained CPI Cuts Benefits By $127 Billion Over The Next 10 Years.” According to AARP, “Although many have attempted to characterize the chained CPI as a minor tweak, it is in fact a significant benefit cut that snowballs over time. The adoption of chained CPI would take approximately $340 billion dollars out of the pockets of current and near retirees, working families, veterans and the disabled, as well as the local economies in which they live, in the next 10 years alone. Specific to Social Security, the chained CPI cuts benefits by $127 billion over the next 10 years.” [AARP, 8/12/13]
There you have it. Now Cotton's opponent, Senator Mark Pryor (D. AR), may not be perfect but Pryor is against cuts to Social Security, has spoken out against the chained CPI and has voted against including Social Security to the federal budget. On this issue, it is very important that we keep Cotton out of the U.S. Senate. If you would like to get involved or donate to Pryor's campaign, you can do so here:
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