Social Security Law: Idaho recipients alarmed over US Congress’ move to slash Social Security fund
August 26, 2010
Idaho — Social Security recipients, especially in Idaho, have expressed apprehension over the US Congress' move to reduce the Social Security (SS) fund. Many of them said the move could hurt the monthly family income of recipients in the state, or nearly a quarter of 260,000 citizens.
The House proposal to reduce the SS fund aimed to resolve federal budget shortage, which the American Association of Retired Persons (AARP) contested as it would affect the monthly living expense of most senior citizens.
In response, AARP challenged the lawmakers’ move and asserted that almost 100 percent of Idahoan retirees rely on SS monthly benefit as living allowance.
AARP argued that the Social Security does not create a fiscal problem on the federal budget, and thus should not be reduced; affecting significant programs.
The National Commission on Fiscal Responsibility and Reform, formed by President Barack Obama, had earlier recommended reduction in Social Security benefits to balance the federal budget.
Senator Mike Crapo of Idaho has made efforts on negotiating budget stability for Social Security, which will affect a quarter of 260,000 Idaho citizens. About 50 percent of Idaho families' income come from SS monthly benefit.
Crapo said almost half of Idaho senior citizens will suffer if the monthly retirement benefit is reduced.
On the other hand, AARP explained that the Social Security trust fund still has $2.5 trillion assets and has remained robust. The SS fund can sustain its programs for at least 27 years more and can support 100 percent of SS retirement monthly stipend until 2037.