Not only did Democrats’ $2 trillion spending bill fuel 40-year inflation that has undermined Social Security and pushed health care premiums to their highest in years, it would cut billions of dollars from Medicare without congressional action.
Now, in a few short weeks, Congress will have to act to fix Democrats’ blunder. As Politico reports:
“Congress must act in the next two months to waive billions of dollars in Medicare cuts that would take effect next year — a side effect of Biden’s $1.9 trillion American Rescue Plan. The cuts are required by 2010 pay-as-you-go budget rules, which require lawmakers to offset the cost of legislation.”
READ: REPORT: Dems’ $1.9T Bill Ignores GOP Focus on Crushing Virus, Creating Jobs
Bottom Line: Social Security and Medicare are too important to be subject to the politics of a cliff negotiation. The only way to protect and strengthen these programs is on a bipartisan basis.
KEY TAKEAWAYS:
Seniors are Suffering Under Biden-Flation:
- Because of raging inflation, the 2023 “cost of living adjustment” of 8.7 percent is the highest since the current automated formula was put in place in 1983.
- While this necessary bump will help seniors going forward, seniors have already been facing, and will continue to face these sky-high prices.
- Additionally, the high COLA could push many seniors whose benefits weren’t previously subject to taxation to pay taxes on their benefits for the first time and saddle others with a higher tax bill.
READ: As Seniors Suffer Under Biden-Flation, Democrats Spin
Democrats Risk Destabilizing Medicare Further:
- Democrats have proposed to add even more costs to the tune of $358 billion over 10 years in reckless spending even though 90 percent of Medicare Advantage plans already offer those benefits.
- Democrats plan to lower the eligibility age for Medicare, destabilizing the Medicare trust fund for existing enrollees.
Democrats Have Ignored the Highest Increase in Health Care Prices in History:
- Under President Biden, health care prices rose nearly 30 percent in the last year, the largest increase on record. Yet Democrats have offered:
- Medicare Part B premiums reached a historic high during the Biden Administration, and seniors are only getting a partial refund on what they’ve already paid.
- Democrats’ so-called “Inflation Reduction Act” one-size-fits-all Obamacare subsidies increase the cost of health care.
- Between 2013 and 2019, the average price paid for health insurance (“premiums”) jumped by 143 percent. At the same time that premiums more than doubled in the individual market, deductibles for ACA-compliant coverage also increased by an average of 35 percent — over $1,700 for individuals and $3,600 for families.
Original source can be found here
