On C-SPAN's Washington, Rep. Dan Lungren touts his cohort Rep. Paul Ryan's web site, A Roadmap for America's Future as where to look for the Republican's plan to balance the budget. Lungren claims that the site lays out a way to "save" entitlement programs such as Social Security. Of course by "save" he means privatize.
Here's what it says about Social Security under the "Roadmap Plan 2.0"
- Preserves the existing Social Security program for those 55 or older.
- Offers workers under 55 the option of investing over one third of their current Social Security taxes into personal retirement accounts, similar to the Thrift Savings Plan available to Federal employees. Includes a property right so they can pass on these assets to their heirs, and a guarantee that individuals will not lose a dollar they contribute to their accounts, even after inflation.
- Makes the program permanently solvent – according to the Congressional Budget Office [CBO] – by combining a more realistic measure of growth in Social Security’s initial benefits, with an eventual modernization of the retirement age.
And here's their plan for Medicare/Medicaid:
- It preserves the existing Medicare program for those currently enrolled or becoming eligible in the next 10 years (those 55 and older today) - So Americans can receive the benefits they planned for throughout their working lives. For those currently under 55 – as they become Medicare-eligible – it creates a Medicare payment, initially averaging $11,000, to be used to purchase a Medicare certified plan. The payment is adjusted to reflect medical inflation, and pegged to income, with low-income individuals receiving greater support. The plan also provides risk adjustment, so those with greater medical needs receive a higher payment.
- The proposal also fully funds Medical Savings Accounts [MSAs] for low-income beneficiaries, while continuing to allow all beneficiaries, regardless of income, to set up tax-free MSAs.
- Based on consultation with the Office of the Actuary of the Centers for Medicare and Medicaid Services and using Congressional Budget Office [CBO] these reforms will make Medicare permanently solvent
- Modernizes Medicaid and strengthens the health care safety net by reforming high-risk pools, giving States maximum flexibility to tailor Medicaid programs to the specific needs of their populations. Allows Medicaid recipients to take part in the same variety of options and high-quality care available to everyone through the tax credit option.
I guess they all assume that seniors are willing to throw their grandchildren under the bus to keep their existing benefits rather than pay back the Social Security trust fund that's been borrowed from. We've just got to keep those tax cuts for the rich don't you know. Lungren finished off the segment pretending his party hasn't already made sure that the next generation of Americans isn't going to do worse than their parents. Sorry pal, too late.