Battle Lines Form in the Fight Over Social Security Payment Reductions
(By – Eric Pianin, www.thefiscaltimes.com)
With as many as 11 million Americans facing a 19 percent cut in their Social Security Disability Insurance (SSDI) benefits next year absent intervention by Congress and the White House, Republican lawmakers are suddenly moving to devise a plan to avert the crisis. The Republicans are considering an approach that combines money-saving reforms to the disability insurance program and a substantial “loan” from the much larger old age and survivors’ benefits fund (OASI) — one that eventually would have to be repaid. The Obama administration favors a simple transfer of funds from the OASI fund to the cash-strapped disability fund and a series of experimental reforms to save money. Read more…