Spreading the News
We all need to pay attention and inform others about a recent announcement from the United States Treasury. They expect to borrow $955 billion this fiscal year (almost double what was borrowed last year.) The Congressional Budget Office said tax receipts will be lower because of the new tax law. This will be the first time borrowing will jump this much in non-recession time since Ronald Reagan was president. The Treasury forecasts additional borrowing of over a BILLION dollars each year for the next two years.
I am not a fortune teller but it is pretty clear to me that, sooner rather than later, Congress will feel compelled to deal with this issue of rising debt. With the increased borrowing I believe this administration is setting up Senior Citizens to be cast as the fall guy for the increased deficits and will want to come after us with cuts to Social Security and Medicare.
SOAR cannot sit back and wait for Congress to act and then respond. We need to begin right now by educating our members, informing the public and to start mobilizing our members to stop, what I am sure will happen, an assault on Medicare and Social Security that will severely impact our standard of living and our healthcare as well.
If we do our job of informing our members and other seniors about this real threat to our standard of living, we will be prepared to defend it and be able to mobilize and work with other groups that share our interest. SOAR must work to defeat any attempt to put the blame of deficits on the backs of Senior Citizens and put it where it really belongs, on lousy tax policy.
Bill Pienta, SOAR President
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