{"id":9926,"date":"2024-12-25T09:15:01","date_gmt":"2024-12-25T16:15:01","guid":{"rendered":"https:\/\/jasonsblog.ddns.net\/?p=9926"},"modified":"2024-12-25T09:34:45","modified_gmt":"2024-12-25T16:34:45","slug":"congress-just-pushed-social-security-closer-to-the-brink-to-appease-unions-but-few-seem-to-care","status":"publish","type":"post","link":"https:\/\/jasonsblog.ddns.net\/index.php\/2024\/12\/25\/congress-just-pushed-social-security-closer-to-the-brink-to-appease-unions-but-few-seem-to-care\/","title":{"rendered":"Congress Just Pushed Social Security Closer to the Brink to Appease Unions, but Few Seem to Care"},"content":{"rendered":"\n

I’m just a few years away from collecting Social Security of which I paid in a considerable sum over my working years, but I fear after the financial reset there won’t be anything to collect or it will be curtailed by quite a bit. Consequently, I have a post<\/a> on Trump wanting to do away with the debt ceiling where I show how absolutely devastating our debt situation is as a nation, along with the share by citizen and taxpayer. Furthermore, the OCGFC that control the government and their stooges within, are they going to allow Social Security to blow up with a national uproar? Or through another plandemic and related gene therapies, are they planning to eliminate many of Social Security age to make the program manageable like they did with COVID? And the OCGFC use tax money to enrich themselves further, so they’re not going to be content to let useless eaters collect what they consider to be their money. And beyond the real debt numbers, we also have unfunded liabilities as a nation which shows this house of cards can not continue indefinitely.<\/p>\n\n\n\n

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https:\/\/justthenews.com\/government\/congress\/wedat-unions-behest-congress-just-pushed-social-security-closer-brink-few-seem<\/a><\/p>\n\n\n

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CBO estimates the new law will deplete Social Security Trust fund by a whopping $20 billion a year.<\/h5>\n\n\n\n

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By John Solomon<\/a><\/p>\n\n\n\n

As they rushed home for the holidays, members of Congress approved legislation that will extend additional Social Security benefits to workers whose municipal employers didn\u2019t always pay fully into the fund.<\/p>\n\n\n\n

It was a gift to labor unions, but one that came with a hefty price tag for the fast-depleting Social Security trust fund that lawmakers have failed to fix for decades.<\/p>\n\n\n\n

The Congressional Budget Office warns the Social Security Fairness Act<\/a> \u2013 as it was called \u2013 will cost $196 billion over the next decade to provide added benefits to some 3 million Americans, depleting the trust fund by a whopping $20 billion a year.<\/p>\n\n\n\n

When the House and Senate approved the legislation in bipartisan fashion, they skipped the pay-as-you-go legal requirements. That means no new funds are allocated to replenish the extra burden on the fund, though there were some small savings in food stamps.<\/p>\n\n\n\n

Only a handful of lawmakers raised any concerns about further speeding Social Security\u2019s pending sand clock expiration date.<\/p>\n\n\n\n

\u201cThis is not a small bill: $20 billion is a huge spending commitment by Uncle Sam,\u201d Rep. Glenn Grothman, R-Wis., one of the few to raise concerns, told Just the News during an interview on the John Solomon Reports<\/em> podcast. \u201cIt was very frustrating for me to watch it get out of the House.\u201d<\/p>\n\n\n\n

The House approved the law in November<\/a> by a vote of 327\u201375 with one member abstaining.<\/p>\n\n\n\n

\u201cIt’s just shocking given that we just had a bunch of Republicans win, and this is happening when the Republicans are in charge,” Grothman lamented. “We just had a bunch of Republicans run on, \u2018We have too much inflation because we’re spending too much money,’ and the first thing they do, even before they’re sworn in in January, is decide to spend another $20 billion.<\/p>\n\n\n\n

“And it\u2019s just another throwing gasoline on the fire of inflation, driving America into even more in debt, one of the, I would say, dark days of the Republican Party.”<\/p>\n\n\n\n

Sen. Rand Paul, R-Ky., offered <\/a>an amendment to the bill to help offset the price tag with a few changes, including gradually raising the retirement age to 70, but he was rebuffed before his Democrat-controlled chamber approved the law.<\/p>\n\n\n\n

\u201cIt is absurd to entertain a proposal that would make Social Security both less fair and financially weaker,\u201d Paul said when he introduced his amendment. <\/p>\n\n\n\n

The CBO\u2019s assessment of the new law warned that the Social Security trust fund is about to hit the red in 2034 but benefits could begin being cut even six months earlier as a result of the new law.<\/p>\n\n\n\n

\u201cBased on the estimated effects of the bill through 2034, CBO expects that the bill would advance the exhaustion date for the combined trust funds by roughly a half a year,\u201d the assessment reads.<\/p>\n\n\n\n

hr82.pdf<\/a><\/p>\n\n\n\n

The bill\u2019s beneficiaries are sympathetic figures: cops, firefighters, teachers and other municipal workers whose employers \u2013 state and local governments \u2013 chose not to contribute the employer share of the Social Security obligations.<\/p>\n\n\n\n

That decision lowered the estimated Social Security benefits of such workers when they retired, a point public worker unions made to Congress.<\/p>\n\n\n\n

\u201cMillions of retired teachers and firefighters and letter carriers and state and local workers have waited decades for this moment,\u201d Senate Majority Leader Chuck Schumer, D-N.Y.,, declared after the Senate passed the law 76-20 early Saturday morning. \u201cNo longer will public retirees see their hard-earned Social Security benefits robbed from them, thanks to this bill.\u201d<\/p>\n\n\n\n

Unions were ecstatic by the passage after years of failing to garner congressional support for the change.<\/p>\n\n\n\n

“The Social Security Fairness Act gives retired fire fighters and millions of other dedicated public servants the benefits they earned and paid into,\u201dsaid Edward A. Kelly, general president, International Association of Fire Fighters. \u201cThe IAFF applauds Congress for ending this theft.\u201d<\/p>\n\n\n\n

Critics of the law don\u2019t oppose the front-line workers but wanted the legislation to cover its new costs or be part of a larger reform to save the Social Security trust fund that has been lurching toward insolvency for decades.<\/p>\n\n\n\n

\u201cWe want to help in making this happen, but our preference was for it to be part of a much larger Social Security reform,\u201d Dan Adcock, director of government relations and policy at the National Committee to Preserve Social Security and Medicare, told CNBC<\/a>.<\/p>\n\n\n\n

Grothman said the states and cities knew what they were doing and should have covered their own shortfalls, and that the workers who took the jobs would have known of the consequences when they got hired.<\/p>\n\n\n\n

\u201cEvery state made this decision,” he said. “If they didn’t like the decision, they could go to their state legislature and fix it there.” he said.<\/p>\n\n\n\n

The Wisconsin Republican noted Democrats refused for years when in charge to approve such a solution.<\/p>\n\n\n\n

\u201cYou\u2019ve got to remember this bill used to be killed by Nancy Pelosi, and normally you figure when the unions are asking for more government money that would be a Democrat thing. But Nancy Pelosi was always, I give her credit, responsible enough, and the Democrats were responsible enough to say, ‘Hey, we don’t have the money,’\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"

I’m just a few years away from collecting Social Security of which I paid in a considerable sum over my working years, but I fear after the financial reset there won’t be anything to collect or it will be curtailed by quite a bit. Consequently, I have a post on Trump wanting to do away […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-9926","post","type-post","status-publish","format-standard","hentry","category-world"],"blocksy_meta":[],"featured_image_src":null,"author_info":{"display_name":"Jason","author_link":"https:\/\/jasonsblog.ddns.net\/index.php\/author\/jturning\/"},"_links":{"self":[{"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/posts\/9926","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/comments?post=9926"}],"version-history":[{"count":3,"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/posts\/9926\/revisions"}],"predecessor-version":[{"id":9932,"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/posts\/9926\/revisions\/9932"}],"wp:attachment":[{"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/media?parent=9926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/categories?post=9926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/tags?post=9926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}