Social Security Cuts are Indeed Unfair and Unreasonable

Social security is one of the major programs offered by the US federal government. The Social Security Act itself encompasses various programs such as benefits for those unemployed, retirement insurance benefits, the Medicare and the Medicaid. The primary goal of the act was to uplift and protect the social welfare of every American citizen. It is interesting to note that the program is considered the largest government program in the world being also the largest expenditure in the federal budget of America.

The program has been viewed as widely successful for years now and millions of Americans have already benefited from it. Just recently, the Social Security Program was being threatened by numerous politicians including the President himself. There have been extensive rumors about the impending benefit cuts and a change in retirement age policy. From 66, the proposed increase in retirement age is either at 67 or even at age 70. Previous benefits for retirement and unemployment are all in danger of being reduced or worst scrapped.

Politicians and lawmakers who favor these benefit cuts argue that the program itself is now experiencing crisis with its financial future going bleak. There is the assumption that the federal budget cannot fully shoulder the cost of the program and thus would need to cut on its cost resulting in benefit cuts. What they don’t realize is that the Social Security program actually has a trust fund which is estimated to last until the year 2037 or might even last for more years.
Financially, the program is self-sufficient and will not need any help from Congress.

Politicians also argue that the rapid increase in retired and unemployment individuals may also increase the overall cost of benefits offered by the program. Over the course of 20 years, the recent cost of these benefits that is about 4.8 percent of the GDP will significantly increase to 6.0%. It is intriguing to note that these politicians actually noticed the smaller increase in Social Security spending while ignoring the bigger increases in defense spending. The people need these benefits to survive especially at this time of crisis and economic turmoil.

The age 70 retirement policy isn’t viable at all. It may still be reasonable for those who work in comfortable office-related jobs. But imagine the millions of Americans who work in harsh working environments or those blue-collar workers. These cuts in Social Security will deeply affect most Americans in one way or another. In this time of economic recession, more and more Americans will suffer when these cuts will continue. There is a huge need for politicians and lawmakers to realize the real situation of its citizens and set their priorities right.

Senate Democrats: Extend Jobless Aid

With business establishments and institutions going bankrupt, more and more American citizens lose their jobs and are pushed to the brink of poverty. The American taxpayers are not anymore satisfied with the way they are living today. The middle class sector is desperate to find a job and is slowly losing their homes. Everyone is hoping that the government will realize the huge mess that the nation has incurred and will present the necessary solutions and strategies to bring back the old productive nation they once have.

As a sign of relief, the US government will be passing a bill that will extend jobless aid given to unemployed citizens. It will give an average of $309 per week to unemployed persons. The house is expected to pass the bill to president Obama for his signature by the least on Wednesday. The bill is projected to benefit a little over 2.5 million Americans and give them a temporary yet useful source of income.

The extension of jobless benefits is seen as a wise especially during this bad times where people are really struggling to find a good source of living. But we should also be made aware that the republicans and democrats have always opposed each other. Republicans argue that these benefits should be done by doing spending cuts from the budget that the government has. The government currently has an estimated budget of $3.7 trillion.

Republicans argue that further increasing the budget deficit will only endanger the nation of huge and unmanageable debts. What they should do is extend employment benefits without accumulating a further increase in budget deficit or without altering the national debt. They propose spending cuts which would generate money without having the need to borrow.

The future of America relies on every decision that the US government takes. We don’t want to see our future sons and daughters suffering from the debt and poverty, do we? Let us urge to government to take the right decisions and implement only projects and bills that are economically feasible and useful to every citizens of this nation. The extension of the unemployment benefits will surely help a lot of people recover from the ill effects of unemployment. But Congress and the White House should implement this bill without adding up to the national debt. I would have to agree with the republicans suggesting spending cuts instead of increasing the national debt. We should not only think of the present situation but also consider the future as well.

Congress Can Still Improve the Economy Quickly

The great recession has really taken its toll on the American people. A handful of individuals have lost their job and are living a very difficult financial life. Business owners are also struggling to keep their company at bay and continue with their operations. The recession has brought so much trouble to the world especially to America that almost everyone is angry and unsatisfied with the way the government is playing.

The US economy has been unstable and has been the primary reason why so much people don’t have a job nor has a stable source of income. It is a given fact that the rate of unemployment has risen to a very alarming rate. Voters are very much upset and unpleased with the way the US economy has been doing. They all blame it to the recklessness of big Wall Street banks that left the economy crumbling. And now people are seeking for congress to pass a bill that would help mitigate this problem.

It is assumed that in the next couple of months, the state and local government will be implementing a lay off that would remove about 600,000 up to 800,000 employees. This event is triggered because of the reduced revenues brought by the recession and bigger demand for more critical services. This is certainly one of the worst fiscal crisis that the state and local government is facing. With the weak economy already in play, a massive lay off of government employees would spell doomsday.

Americans who are already unemployed are already suffering so much. People are seeking for jobs yet the economy can’t give them one. With the election going near, there are some points that congress can do to at least improve the situation and stop the continuous rise of budget deficit. Congress should first solve the problems that are occurring in the state and local government. A bill that will provide fiscal relief to these governments will help mitigate the problem and ensure that basic essential services are delivered.

The Congress should also extend unemployment benefits. Surveys show that more people are deprived of unemployment benefits. This is very much critical in ensuring that people who do not have a job may still receive enough benefits that would assist him/her in a very difficult situation. It is very important to point out that economic growth is something we really need. It provides an indicator that the deficit is shrinking and the economy is well alive again. But the most important thing is that people should be put to work again. They should continue to produce goods and services that would improve life and keep our society going.