Issues

National Budget:

Retirement Security, Sequestration and other Deficit Reduction Measures

Some lawmakers are intending to reduce the US deficit by either cutting and/or eroding the most successful social programs in American history. It is clear to IFPTE that the fundamental retirement security programs, Social Security, Medicare and Medicaid, are in danger. This will be particularly true during any potential discussions to avoid the sequestration trigger of at least $1.2 trillion in cuts to government agencies. It is likely that in 2012, probably during the lame-duck session between November 6th and Christmas, lawmakers of all political stripes will work to avoid these automatic cuts by reaching an agreement on some other package of massive cuts. Of course the lion’s share of the U.S. deficit is due to decreased resources resulting from the Bush tax cuts, the costs of the wars in Iraq and Afganistan, and the loss of tax revenues due to the massive job losses resulting from the recession. Working people did not contribute to the deficit, yet lawmakers in Washington are more than willing to consider draconian cuts to Social Security, Medicare and Medicaid to help solve the deficit problem. IFPTE will work in opposition to any Social Security, Medicare and Medicaid benefit cuts, and will instead advocate for progressive solutions as a means towards addressing our deficit woes.