As government officials search for ways to cure our current debt crisis, many people in Los Angeles and elsewhere have nervously been eyeing the front page and wondering if government officials' efforts to cut spending will affect the benefits on which they depend. At last, there is some good news - President Obama has recently signaled that he will not include cuts to the Social Security Administration's benefit programs in his most recent $1.2 trillion deficit-reduction plan.
Back in July, Obama indicated that he wanted to change the way Social Security benefits are linked to inflation. This upset a great many people. While we all understand the need to get government spending under control and most of us are willing to shoulder our share of the burden, people who depend on social security benefits were worried that the cuts would wound them too deeply.
But after a lot of pressure from constituents and other lawmakers, Obama seems to be willing to leave the Social Security regime alone - for now. Given how important social security is to many people, it is still an issue we should keep tabs on. Even with Obama's apparent change of heart, some lawmakers on both sides of the aisle are still not happy, which means it is a debate that is far from settled.
If you are concerned about whether you will be able to get what you need from Social Security and are having trouble keeping up with all the debate over the program (and who isn't?), you might want to locate an attorney who works with social security matters. Having a talk with such an attorney can give you more information and leave you feeling more empowered about your situation.
Source: Reuters, "Obama backs away from Social Security in deficits plan," Laura MacInnis and Thomas Ferraro, Sept. 15, 2011