Get Your Blog Up

“This administration is populated by people who’ve spent their careers bashing government. They’re not just small-government conservatives—they’re Grover Norquist, strangle-it-in-the-bathtub conservatives. It’s a cognitive disconnect for them to be able to do something well in an arena that they have so derided and reviled all these years.”

Senator Hillary Clinton

Saturday, February 26, 2005

What they're messing with

AP:
Without Social Security, about 54% of Tennesseans older than age 65 would have incomes below the federal poverty level, a study by a liberal policy group indicates.

The study by the Center on Budget and Policy Priorities found that Social Security is keeping 265,000 Tennessee seniors out of poverty. About 12.6% of some 634,000 seniors in the state now fall below the poverty line.

The poverty line is $9,060 for a single senior and $11,418 for a couple.

The study showed Social Security lifted 13 million American seniors above the poverty line, based on a three-year average from 2000 to 2002, the latest year for which data was available.

Still sound like a good idea to cut benefits? Because with tax raises completely off the table, according to the House GOP, benefit cuts are all that's left.

And as for this:
[Senior research fellow at the conservative Heritage Foundation Dan]Mitchell said there would continue to be a "guaranteed level" of benefits.

May I borrow a sentiment from the movie "Tommy Boy?"
Hey, if you want me to take a dump in a box and mark it guaranteed, I will. I got spare time. But for right now, for your sake, for your daughter's sake, ya might wanna think about buying a quality item from me.

The point is, that "guaranteed level" the Heritage Foundation referred to is a lot lower than it is now. And for those that opt for private accounts and fail, that level is lower still. Imagine the impact of that on those looking to stay above poverty when they retire.