Social Security Cuts For Seniors
Will Senior Citizens lose some income?
In a surprising turn of events, Republicans Senator Lindsey Graham stated that Seniors may have to “take a little less” while also having to “pay a little more” during a recent discussion about Social Security solvency.
According to Go Banking Rates, Graham’s comments came during a debate with Sen. Bernie Sanders.
During the debate, Lindsey Graham said, “Let’s do something like Ted Kennedy would do: get Republicans and Democrats to find a way — like the Gang of Six, the Simpson-Bowles plan. Senator Sanders: bring your Social Security plan to the floor. All it does is raise taxes. To get out of this mess, people like me are going to have to take a little less and pay a little more in. We’re going to have to adjust the age one more time like Ronald Reagan and Tip — Tip O’Neil did. There is a bipartisan way forward. You describe problems, but your answer is always the government — it’s always socialism.”
Bernie Sanders is currently trying to add an additional $200 monthly on top of what Seniors are already receiving and he is meeting a lot of pushback from others.
“There has to be some sense of responsibility here. You just can’t tax people into oblivion and turn every problem over to the government,” Graham added.
Biden Approval Rating
- The latest survey found that 58% of voters disapprove of Biden’s job performance and 39% approve. It marks the 46th president’s lowest approval rating and highest disapproval rating in 62 weekly surveys conducted since he took office in January 2021.
- For comparison, Biden’s latest numbers are worse than Donald Trump’s were at this time four years ago, when 45% approved and 52% disapproved of the former president. Biden’s popularity, or lack thereof, mirrors Trump’s standing in June 2020, when the nation was grappling with the twin crises of the pandemic and the response to the murder of George Floyd.
- Republicans are far more strident in their disdain for Biden than Democrats are in their support: 80% of GOP voters “strongly disapprove” of Biden’s job handling, compared with 37% of Democrats who “strongly approve” of it.
Gas Tax Holiday Coming?
President Joe Biden said Monday that he’s considering a federal holiday on the gasoline tax, possibly saving Americans as much as 18.4 cents a gallon.
“Yes, I’m considering it,” Biden told reporters after taking a walk along the beach. “I hope to have a decision based on the data — I’m looking for by the end of the week.”
The administration is increasingly looking for ways to spare Americans from higher prices at the pump, which began to climb last year and surged after Russia invaded Ukraine in February. Gas prices nationwide are averaging just under $5 a gallon, according to AAA.
The Biden administration already has released oil from the U.S. strategic reserve and increased ethanol blending for the summer, in additional to sending a letter last week to oil refiners urging them to increase their refining capacity. Yet those efforts have yet to reduce price pressures meaningfully, such that the administration is now considering a gas tax holiday. Taxes on gasoline and diesel fuel help to pay for highways
