Paul Krugman on Social Security and Medicare

Republicans to the working class: no golden years for you

My Thursday column is about the assault on Medicare and Social Security that is almost certain to follow if Republicans prevail on Tuesday. If the G.O.P. wins control of Congress, we can expect it to hold the economy hostage, most obviously by weaponizing the debt ceiling, in an attempt to force big cuts in Medicare and Social Security.
This isn’t an outlandish scenario. It already happened once. In 2011, after taking control of the House, Republicans sought to extort major cuts in the social safety net from the Obama administration — and they almost succeeded. In fact, President Barack Obama agreed to a rise in the age of Medicare eligibility, from 65 to 67. The deal fell through only because Republicans were unwilling to accept even modest tax increases as their part of the bargain.
This time around, the demands are likely to be even bigger. A report from the Republican Study Committee, which probably gives a good idea of where the G.O.P. will go, calls for upping the retirement age and the age of Medicare eligibility to 70.
The report justifies such a rise by pointing to the long-term increase in the number of years Americans can expect to live after age 65, which it calls a “miracle.”
What the report doesn’t note are two probably related caveats for this miracle. First, the increase in seniors’ life expectancy has actually been much smaller here than in other wealthy nations. Second, progress has been very uneven within America, with much bigger gains for groups with high socioeconomic status — precisely the people who need Medicare and Social Security the least — than for the less fortunate.

Vote wisely, avoid voter’s remorse.

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About whungerford

* Contributor at NewNY23rd.com where we discuss the politics, economics, and events of the New New York 23rd Congressional District (Allegany, Cattaraugus, Chautauqua, Chemung, (Eastern) Ontario, Schuyler, Seneca, Steuben,Tioga, Tompkins, and Yates Counties) Please visit and comment on whatever strikes your fancy.
This entry was posted in Economics, Medicare, Social Security and tagged , . Bookmark the permalink.

2 Responses to Paul Krugman on Social Security and Medicare

  1. Gary says:

    Don’t forget Democracy, women’s Healthcare and the Right to vote are also on the ballot next.
    President Biden told us this just before he told us to vote on Novembwr 9th.

    Liked by 1 person

  2. whungerford says:

    Yes, Gary, thanks for pointing that out.

    Like

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