The Corker-McCaskill Bill Would Slash Social Security and Medicare

[jtown1123]

From the CBPP: Center on Budget and Policy Priorities

Proposed Cap on Federal Spending Would Force Deep Cuts in Medicare, Medicaid, and Social Security
Would Likely Require Radical Changes Such As Medicare Privatization, a Medicaid Block Grant, and Repeal of Health Reform

A prominent proposal by Senators Bob Corker (R-TN) and Claire McCaskill (D-MO) to limit total federal spending to no more than 20.6 percent of the Gross Domestic Product (GDP), which is attracting increasing attention, may sound benign, but it would inevitably force enormous cuts in Medicare, Medicaid, and possibly Social Security.

The Corker-McCaskill bill would impose automatic, across-the-board cuts (a “sequester”) to close the gap between projected spending and the proposed cap if the cap would otherwise be breached. If the cuts needed to reach the cap were achieved entirely through this mechanism, the estimated cuts would total about $1.3 trillion in Social Security, $856 billion in Medicare, and $547 billion in Medicaid over the first nine years that the cap was in effect, from 2013 through 2021. These figures are based on Congressional Budget Office (CBO) projections of spending over the next decade under current policies and on the Corker-McCaskill formula for how across-the-board cuts would be imposed.

The cuts in Social Security, Medicare, Medicaid, and other programs would grow much larger in subsequent decades. For one thing, the 20.6 percent cap would phase in gradually and would not be fully in effect until 2023 and thereafter. <1> For another, Social Security, Medicare, and Medicaid costs are projected to rise substantially in future decades due to the aging of the population and rising health care costs and, thus, would have to be cut by increasingly severe amounts to meet the Corker-McCaskill level.

THE REST: http://www.cbpp.org/cms/index.cfm?fa=view&id=3471

Campaign for America's Future R.J. Eskow rips these plans apart...

"Suddenly Washington is filled with proposals for 'debt triggers,' policy devices that would force spending cuts if arbitrary targets aren't met in the future. Everybody's either got one or wants one: the president, the Republicans, the Gang of Six, and all the usual suspects from the austerity crowd.

Let's not dance around the harsh truth, even though that's exactly what these gimmicks are designed to do: "Triggers" are economic IEDs, set to to explode when their builders have left the scene and can't be blamed for the damage."

The REST: http://www.huffingtonpost.com/rj-eskow/trigger-happy_b_852367.html

[shraby]

1. I would like to know how they can cut Social Security?? It is

fully funded by contributions from the recipients of the money and at the present has a huge surplus. If they cut it, they are stealing our funds that we put in there to cover our old age.

[jtown1123]

2. Because they think they can get away with murder...

[HowHasItComeToThis]

3. THEY WILL DO ANYTHING THEY CAN TO STOP THE RECOVERY AND CAUSE A DEPRESSION

IT IS ALL PLANNED

[MattBaggins]

12. That is exactly what they intend to do

They will lower the benefits on the programs but keep taking your money for them. they will not lower the taxes collected for them one iota. Tax cuts are only for corporations and rich people that don't pay them in the first place.

There is no talk about lowering corporate welfare. They have concocted a fear campaign to justify stealing our money to give to the top 5% and have us praising them for doing it as "bold", "courageous" and the "American thing to do".

[xchrom]

4. Claire McCaskill? what party is she in again?

:eyes:

[femrap]

5. She comes from

a RICH family....she's in The Rich Party.

[cbdo2007]

15. She married into a rich family....They make their Million$$$ in nursing homes.

[femrap]

22. It just doesn't seem right

that people make millions off people who are in dire straits. But then Greed and the Almighty Dollar rule this nation now.

[xmas74]

24. And I voted for her.

I don't know how this happened.

[Proud Liberal Dem]

6. Lemme guess

cuts to other things like, say, military spending would be kept off the table, right? :eyes:

Does this have any chance of passage. I thought that McCaskill backed off that suicidal flirtation with cutting Social Security? :shrug: I guess not.

[MattBaggins]

13. She seems to be taking political advicefrom Blanche Lincoln

[Proud Liberal Dem]

21. I guess

Very disappointing. Hopefully, she's just signing on to this crazy idea just so that she can go back and tell the voters what she supported (knowing full well it ain't gonna happen). Of course, why ANYBODY feels like they should even have to pretend to sign on to a crazy idea just to get re-elected is totally beyond me. It must suck being a Democrat representing a state dominated by batshit insane Republicans.

[ReturnoftheDjedi]

7. Claire really needs to quit sending me fundraising letters.

[OHdem10]

8. Do they remember the recent election---Blue Dogs, DLC in other

words, Conservative Democrats lost. McCaskill is essentially
yelling to her constituents--Fire Me.

[WinkyDink]

9. STOP THE DA*N ILLEGAL WARS ON SOVEREIGN NATIONS.

[CelticThunder]

10. Does anyone doubt that Obama would hesistate to sign this bill if it passed?

[MadHound]

11. I would say the Claire has been a disappointment,

But then again, given her background and politics, it really isn't much of a surprise that she's doing these sorts of things.

Time to replace her in '12.

[cbdo2007]

16. She knows she's toast in 2012. Maybe she's thinking of running as an independent.

[EC]

14. I'm hoping this is just a stunt to cover

McCaskill's ass with her more conservative voters and will be dumped in the Senate.

[bullwinkle428]

18. Pretty stupid stunt, considering that 70% of teabaggers are pro-Medicare.

[mmonk]

17. What we really need is a bill to slash their whore money.

[indepat]

19. Tennesseans are getting a front-seat look at how their junior Senator is itching to

fu*k 'em over. :patriot:

[spanone]

20. corker / mccaskill...folks who don't need these services

the well to do, doing away with services they don't need.

[Stinky The Clown]

23. My abiding dislike for her continues to have a sound basis.

[Sirveri]

25. Why is defense spending not mentioned AT ALL here?

It's only the biggest thing in the discretionary budget...

[LynneSin]

26. McCaskill is taking notes from the "Blanche Lincoln's Re-election for Dummies" book

And look how well that worked for Blanche

:grr: