SOCIAL SECURITY LAW: New Survey Rejects Cuts in Medicare and other Social Security Benefits
May 23, 2011Washington – A new poll showed that most Americans do not believe that Medicare and other Social Security benefits must be reduced to balance the federal budget, reports said.
Reports said a poll conducted by the Associated Press-GfK Poll revealed that the public are not convinced with arguments regarding the overhauling of massive benefit programs to ease government debt and deficit.
According to the poll, most Americans worry about their future and their retirement where 3 out of 5 said Medicare and Social Security are valuable to their financial security when they grow old.
Social Security and Medicare account for about two-thirds of federal spending. Experts however said the cost of retirement programs is the most serious budget problem that the country could face in the future. Some warned that Medicare is not sustainable as the cost of modern medicine is rising, outpacing economic growth as well as tax revenues.
The government is currently thinking of solutions which involved mainly cutting benefits or raising taxes.
In the poll, 54 percent said it is possible to balance the budget without cutting spending for Medicare, and 59 percent said the same about Social Security.
The poll showed that 70 percent said Social Security is "extremely" or "very" important to their financial security in retirement, while 72 percent said so for Medicare. Sixty-two percent said that both programs are extremely or very important.
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