Statement on 2014 Social Security and Medicare Trustees Reports
Published : 2014-07-29 - Updated : 2014-07-30
Author : The Alliance for Retired Americans - Contact: firstname.lastname@example.org
🛈 Synopsis : Statement by retiree leader Richard Fiesta on the 2014 Social Security and Medicare Trustees Reports.
Main DigestThe following statement was issued by Richard Fiesta, Executive Director of the Alliance for Retired Americans, in response to Trustees reports issued today on the Social Security and Medicare Trust Funds.
The most important lesson from the 2014 Social Security Trustees Report is that Social Security has a large and growing surplus.
Today's report projects Social Security's cumulative surplus to be roughly $2.8 trillion in 2014, growing to about $2.9 trillion around 2020.
The report reaffirms that, without any changes, Social Security can pay full benefits until 2033 and three-quarters of benefits after that, unchanged from last year's report.
The Medicare Trustees report reminds us once again that the Affordable Care Act is controlling health care costs.
It is great news that the life of the Medicare Trust Fund has been extended by another four years to 2030.
Attempts to repeal health care reform would only undo the progress we have made in controlling health care costs.
Current and future retirees must be wary of those politicians who will use today's Social Security and Medicare Trustees reports as political cover for radical changes that would put seniors, the disabled, and the families of deceased workers at risk. For instance, we do not need to cut Social Security to address the projected shortfall in the disability trust fund. Rather, we just need a technical adjustment. Congress should, as it has done multiple times before, simply reallocate income across these funds."
More and more politicians are actually advancing proposals to expand Social Security.
One example, the Strengthen Social Security Act (S.567 and H.R. 3118), introduced by Senator Tom Harkin (D-IA) and Rep. Linda Sanchez (D-CA), would increase annual Social Security benefits by an average of $800. That is an improvement to our retiree system, and we support it.
The 49th anniversary of President Lyndon Baines Johnson signing Medicare into law will be this Wednesday, July 30. That means next year, Medicare turns 50 - and the Alliance for Retired Americans intends to make sure Medicare is still strong then, and for our children, and for our grandchildren.
Related U.S. Social Security Documents
- 1: 2021 COLA: 1.3% Predicted : U.S. Social Security recipients likely to get 1.3 percent cost of living adjustment (COLA) in 2021 - the 2nd lowest ever paid, according to The Senior Citizens League (TSCL).
- 2: Social Security Disability Demographics in Rural America : Document examines several employment statistics and rates of disability in certain rural areas of the United States.
- 3: Relief for Student Loan Borrowers with Disabilities During COVID-19 : The United States Department of Education announces relief for student loan borrowers with total and permanent disabilities during the COVID-19 emergency.
- 4: Social Security Outreach to Vulnerable During COVID-19 : U.S. Social Security Administration outreach to vulnerable populations during COVID-19 Pandemic - Advocates and community organizations can help connect people.
- 5: U.S. Department of Social Security Benefits Calculators : Find out your Social Security benefit entitlements using these calculators, includes information on how to apply online for benefit payments.
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Journal: Disabled World. Language: English (U.S.). Author: The Alliance for Retired Americans. Electronic Publication Date: 2014-07-29 - Revised: 2014-07-30. Title: Statement on 2014 Social Security and Medicare Trustees Reports, Source: <a href=https://www.disabled-world.com/disability/social-security/usa/statement.php>Statement on 2014 Social Security and Medicare Trustees Reports</a>. Retrieved 2021-04-12, from https://www.disabled-world.com/disability/social-security/usa/statement.php - Reference: DW#121-10479.