February 19, 2010

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President Establishes Debt Commission to Look at Social Security and Medicare

Yesterday, President Barack Obama signed an Executive Order establishing a commission to tackle the federal debt.  The commission’s purpose is to reduce the federal budget deficit from 10% to 3% by 2015 and to propose ways to contain costs related to Medicare, Medicaid and Social Security.  As co-chairs of the commission, the president named former …

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February 5, 2010

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President’s Budget Includes $250 Stimulus Payment for Social Security Recipients

President Obama’s Fiscal Year 2011 budget proposes a $250 payment to Social Security recipients.  The relief would come at a time when Social Security beneficiaries will not be receiving a normal cost-of-living adjustment (COLA) because of a formula that forbids adjustments during times of negative inflation.  “Without a COLA, far too many of America’s …

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January 29, 2010

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President Obama Delivers State of the Union Address

During his State of the Union address on Wednesday, President Obama vocalized the critical need for a reduction in the federal deficit.  Alliance Executive Director Edward Coyle agreed with the sentiment but cautioned, “We cannot balance the budget on the backs of America’s seniors.  Vital programs such as Social Security and Medicare did not …

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