"Raising the retirement age would inflict further hardship among a group of workers who are likely to face health and economic problems in their 60s." –Doug Hart, President, Arizona Alliance for Retired Americans
Social Security and Medicare escaped a first round of budget cuts in the debt ceiling agreement reached earlier this week in Washington, but future threats loom on the horizon for these two programs. The agreement, which became law on Tuesday, extends government borrowing power into 2013, immediately cuts $400 billion in spending, and cuts $1 trillion in discretionary spending by 2021. Prior to the vote, Alliance members sent nearly 5000 e-mails to Washington, urging lawmakers to not cut Social Security or Medicare. Medicaid also escaped cuts.