Retiree Leader Reacts to Obama Fiscal Speech

April 13, 2011

Cut Tax Breaks for the Wealthy Instead of Balancing Budget on Backs on Seniors

For Immediate Release

April 13, 2011

The following statement was issued today by Edward F. Coyle, Executive Director of the Alliance for Retired Americans:

“Retirees support President Obama’s call to lower our federal budget deficit.  Older Americans do not want a large debt to be the legacy we leave behind for our children and grandchildren.

“As this debate proceeds, grassroots activists with the Alliance for Retired Americans will be urging their elected officials to address the root causes of our deficit – the badly-unneeded tax breaks for wealthy individuals and corporations – and to protect and strengthen Social Security and Medicare, two great American success stories that have helped generations of seniors stay healthy and out of poverty.

“We are glad that President Obama separated his calls for Social Security reforms from the efforts to lower the deficit.  We hope the President’s statement today will help dispel the lingering falsehood in the media and political circles that Social Security causes our deficit.  The Social Security Trust Fund is fully-supported by worker and employer taxes, and currently has a $2.6 trillion surplus.

“There is a right way and a wrong way to lower federal spending.  The wrong way is the plan that the U.S. House will vote on this week by Rep. Paul Ryan (R-WI).  For millions of Americans, it would effectively end their hopes of a safe and secure retirement by cutting Social Security, raising the retirement age, putting insurance companies in charge of privatized Medicare, and letting governors decide who gets nursing home care.

“Over the coming months and year, the Alliance for Retired Americans will be educating retirees across the country on these important issues and where their elected officials stand.”

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Contact: David Blank (202) 637-5275 or dblank@retiredamericans.org


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