inquisitrlogo

 
Lindsey Graham Says He Will Block A Debt Ceiling Deal Unless The Social Security Retirement Age Is Raised [Video]

Posted: December 31, 2012
Lindsey Graham Says He Will Block A Debt Ceiling Deal Unless The Social Security Retirement Age Is Raised [Video]

Washington has no shortage of crisis these days. Congress is currently in Washington trying to avert the tax hikes and spending cuts known as the fiscal cliff.  There are multibillion dollar bills for farm aid and Hurricane Sandy relief. Yet Senator Lindsey Graham is threatening to push America back into a devastating recession by holding up the debt ceiling without a guarantee of raising the retirement age for Social Security. Most economists say that without a deal to raise the debt ceiling the American economy will suffer a more devastating recession than the 2008 financial crisis.

The debt ceiling must be raised by February in order to prevent the looming economic catastrophe.  The last time Republicans held up a deal on the debt ceiling the economic uncertainty caused a massive drop in the stock markets and caused the ratings agencies to lower America’s credit rating.  The Congressional Budget Office further released a study saying that a failure to raise the debt ceiling will spark a new recession in 2013.

Senator Graham in an interview with Fox News Sunday said:

“I’m not going to raise the debt ceiling unless we get serious about keeping the country from becoming Greece, saving Social Security and Medicare [sic]. So here’s what i would like: meaningful entitlement reform — not to turn Social Security into private accounts, not to take a voucher approach to Medicare — but, adjust the age for Social Security, CPI changes and means testing and look beyond the ten-year window. I cannot in good conscience raise the debt ceiling without addressing the long term debt problems of this country and I will not.”

The retirement age for Social Security currently stands at 65 years old. Senator Graham is proposing radical changes to the program in addition to raising the retirement age.  Social Security has become a frequent target for Republicans who are wary of income generation through cuts to defense spending or raising taxes.

Watch the video of Graham threatening to hold up the Debt ceiling bill.



Comments


4 Archived Responses to “ Lindsey Graham Says He Will Block A Debt Ceiling Deal Unless The Social Security Retirement Age Is Raised [Video] ”

  1. Roxie Kuluk
    Dec 31, 2012

    DON"T BE FOOLED 1) The Federal Government has borrowed so much from Social Security that they owe us in excess of 736 billion dollars? Our government owes SS almost twice as much as they owe to China and Hong Kong.
    2) The GOP wants to make 1/2 of the deficit go away by eliminating their debt to social security.
    3) Social Security sef-financed, it spends less than 1% administration and a $2.6 trillion surplus.
    4) Did you know that Social Security can pay full benefits until 2037?
    5) There has been a Social Security fix? In 1983 a new law made baby boomers pay to cover our parents retirement as well as pay for our own retirement. We have paid more into Social Security than any other generation. We also have higher inflation so I'm not complaining.
    6) Just the interest on what the government owes us should help our children pay for their social security.
    8) Both the Federal government and wall street have a lot to gain if you loose your retirement. Do not let Graham or anyone else take your retirement or your children's away. Both your president and your representatives, and your senators know this is true.. Write to your congressmen, senators, and president. I will pay my taxes but I will NOT allow these thieves to take social security away from my children.

  2. Daniel Cooper
    Dec 31, 2012

    Keep your filthy hands out of the pockets of our children and grandchildren. NO debt limit increase.

  3. Donna Hess
    Jan 1, 2013

    R U crazy?!!!???

  4. Roxie Kuluk
    Jan 2, 2013

    As 0f 2012 the federal government ow social security 4.8 Trillion. As long U.S. repays their debts over time there is no Social Security crisis. I rich people pay into social security, there seems to be particular reason that they should not get social security. We have paid into Medicare too. If it is an unstable program, I would like to the financial evidence of it.
    Someone does don't appear to read balance sheets. If there is actually a problem, I would suggest that the government repay 800 million to social security and the social security can shore up medicare.