Tuesday, June 07, 2011
Connie Mack's 1% per year cut could affect seniors, others immediately, couldn't it?
Connie Mack (R-FL) proposes cutting all Federal spending by 1% a year for six years, to eventually balance the budget. This would give Congress some explicit incentives to negotiate timetables for real cuts, especially in entitlements.
That would seem to have the potential to require immediate cuts to benefits to seniors, even now, to the extent that their benefits were not funded by FICA and Medicare taxes that they had paid. And it sounds as if they would go into effect automatically, by law.
But other cuts could go into effect automatically, too, like Medicare.
There used to be a Connie Mack who owned the Philadelphia Athletics back in the 1940s!
Mack appeared on Elliot Spitzer’s show on CNN Monday night June 6.