Today’s breaching of the debt ceiling by the U.S. government is making seniors’ advocates nervous. The federal government is now on track to default on its financial obligations (including the ability to make Social Security and Medicare payments) as early as June --- unless Congress raises the debt ceiling, which it has done 78 times since 1960. As CNN's Jake Tapper put it, "Republicans are vowing to cut future spending before agreeing to pay bills that are already due."
As the country awaits full election results, The National Committee to Preserve Social Security and Medicare congratulates the many seniors’ champions who prevailed in key races across the nation. Several candidates who the National Committee enthusiastically endorsed have emerged victorious in crucial House and the Senate contests.
NCPSSM Makes Final Endorsements of 2022 Cycle, Emphasizing GOP Threats to Social Security and Medicare
As the midterm campaign draws to a close with the future of Social Security and Medicare possibly at stake, NCPSSM has been completing its final round of candidate endorsement events around the country. Today in Charlotte, North Carolina, NCPSSM legislative director and PAC coordinator Dan Adcock formally endorsed Democrat Cheri Beasley for U.S. Senate in one of the pivotal swing state races of this election cycle.
It is no exaggeration to say that the nation's two most important programs for seniors—Social Security and Medicare—are on the line in this November's elections. This is not a matter of nuance; it's truly existential. Whichever party controls Congress will influence whether Social Security and Medicare will continue as we know them—or be weakened and privatized.
On August 16th, the Food and Drug Administration issued a final rule establishing a new category of over-the-counter (OTC) hearing aids. This will allow people with 'mild to moderate' hearing loss to buy hearing aids directly from stores or online retailers. Consumers will not need an exam, prescription or a fitting by an audiologist.
“Now is not the time to turn our backs on seniors by cutting Social Security and Medicare!” declared Congressman Raja Krishnamoorthi
NCPSSM President and CEO Max Richtman joined two Pennsylvania congressmen in announcing that seniors will benefit from the just-enacted Inflation Reduction Act. Richtman appeared last week at Circle Pharmacy in Philadelphia with representatives Brendan Boyle (D-PA) and Dwight Evans (D-PA).
The U.S. House today passed historic legislation to bring down prescription drug prices for tens of millions of American seniors. The Inflation Reduction Act, which the Senate passed last weekend after intense negotiations between Senate Majority Leader Chuck Schumer and West Virginia Senator Joe Manchin, now goes to President Biden's desk for signature. It is the most sweeping health care legislation since the enactment of the Affordable Care Act in 2010.
Those who refer to the Inflation Reduction Act passed by the Senate this past weekend as “historic” are not exaggerating. The Act represents the most muscular legislation to date to try to tame rising prescription drug prices, which can be devastating for seniors.
Social Security’s trust fund received a one-year reprieve in the 2022 Social Security Trustees report, released late Thursday afternoon. The Trustees project that the combined disability and retirement trust fund will become depleted in 2035 – one year later than predicted last time – if Congress doesn’t take preventative action. When the trust fund becomes insolvent, the Trustees say, Social Security will only be able to pay 80% of scheduled benefits.