Actuary: GOP Cuts To Social Security Anti-Fraud Programs Could Cost Taxpayers $5 Billion

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http://tpmdc.talkingpointsmemo.com/2012/07/gop-social-security-cuts-cost-taxpayers-xavier-becerra.php

Upon Instapaper Reddit digg Sahil Kapur- July 26, 2012, 3:05 PM 1005Cuts proposed by House Republicans to programs designed to weed out waste and abuse within Social Security could end up costing taxpayers more in the long run than the spending cuts themselves are designed to save, according to the program’s chief actuary.

An appropriations bill that last week cleared a GOP-led subcommittee slashes 2013 funding for disability reviews and eligibility redeterminations, which seek to ensure that seniors and other eligible beneficiaries don’t receive more funds than they are entitled to. The proposed cuts would shave this specific budget item from the $1.024 billion agreed upon in the debt limit law last year to $272 million, saving nearly $800 million.

In other words, House Republicans are seeking to eliminate safeguards within the Social Security system that are proven to save taxpayers far more money that they cost. It’s an assessment that Democrats opposed to the cuts were quick to highlight.

“First they voted to end Medicare. Now they have proposed slashing almost $800 million from Social Security’s operating budget,” said Becerra, a leadership member and top Democrat on the Ways & Means subcommittee on Social Security. “What’s worse, the bulk of this reckless cut would shortchange Social Security’s ability to fight waste, fraud and abuse. In the end, as much as $6 billion of the taxpayers’ money could be lost. Social Security’s money should be going towards the benefits of those who have earned it.”

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1. And the GOP is against the hiring of more IRS agents, who collect many times their salary.