CBPP Report Concludes BBA Could Lead to Deep Cuts to Medicare, Social Security, Veterans Benefits & More

Americans demand that Congress focus on solving our nation’s job crisis – but the GOP do-nothing Congress isn’t interested in solving this problem. Republicans are instead bringing a so-called ‘Balanced Budget Amendment’ (BBA) to the floor that could destroy jobs, stall our economy and harmfully impact seniors, children and veterans:

A new report from the Center on Budget and Policy Priorities (CBPP) finds that if the cuts mandated by this flawed BBA are spread proportionally, tens of millions of seniors, children and veterans will be impacted:

Social Security would be cut $184 billion in 2018 alone, and almost $1.2 trillion through 2021;

Medicare would be cut $117 billion in 2018 and about $750 billion though 2021;

Medicaid and CHIP would be cut $80 billion in 2018 and about $500 billion through 2021; and

Veterans’ disability payments, compensation, and other entitlement benefits would be cut $13 billion in 2018 and $85 billion through 2021.

Democrats support a big, bold and balanced plan to reduce the deficit and remain committed to a path of action that ensures job creation and economic growth.

This entry was posted in Correcting the Record, Economic News, Fiscal Responsibility, What's Happening. Bookmark the permalink.