Efforts to cut federal budget keep running into roadblocks
The budget gurus in Congress have failed for years to find a grand bargain to reduce the government’s long-term debt, so this year they decided to go small. Just 1 percentage point would be shaved from the annual cost-of-living increase in military pensions for veterans under age 62. That strategy failed, too. Congress promptly caved in to pressure from the powerful veterans lobby and voted last month to restore the bigger pension increases it had cut just two months earlier. It didn’t matter that the Pentagon itself called the reduction fair and necessary…Read More
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.