Boxer Urges Debt Ceiling Increase, Withholding Congressional Pay Until Budget ...
Senator Barbara Boxer has taken on the issue of the nation’s budget and is concerned that partisan games are taking the place of critical thinking in solving the country’s fiscal crisis.
According to a statement issued by the Senator, the United States reached its debt ceiling last month and Treasury Secretary Timothy Geithner indicated that he can delay a government default until August 2.
If the debt limit is not increased, the U.S. would default for the first time in history, with disastrous effects on our economy, millions of families and America’s standing in the world. Don't miss a thing. Get breaking news alerts delivered right to your inbox
Boxer told KHTS that partisan game playing was putting America in a dangerous position, referring to the vote by House Republicans Tuesday to increase the federal debt limit that failed.
“I just feel their decision to play games with the full faith and credit of America is reckless and it threatens our fragile economic recovery,” she said.
“This is the greatest nation in the world, and we can’t default on our legal obligations,” she continued. “We never have and we shouldn’t even flirt with that notion, because the consequences for our families and economy and our leadership in the world is at stake. If we default, our country will no longer be seen as a trustworthy borrower, the value of securities will be damaged, harming individuals and businesses.”
“If the debt limit is not increased, millions of Americans would be hurt, as the government is forced to halt payments for Social Security, the brave men and women in uniform, veterans’ benefits,” she continued. “The shock of this default could also trigger another market turndown.”
She theorized that the House vote was deliberately taken after the stock markets closed, although she noted that the market was not performing up to par on Wednesday.
Boxer said that Congress also needs to join in the public hardships.
“If we don’t raise that debt ceiling, members of Congress should not receive paychecks,” she said. “If we can’t do our job and protect the full faith and credit of the American people, we should not get paid.”
House members, including Congressman Buck McKeon, contend that there is a law that prohibits them from working without pay, something McKeon referred to in a March interview.
“They know that they’re shielded,” Boxer said. “But there’s no protection for Social Security, private contractors or government workers.
Social Security Withholding Limit - News
Republicans focus on cutting government spending, but this is largely a ruse to dismantle the New Deal and social programs like Social Security,Medicare and Medicaid. They are quick to reduce benefits to the sick, elderly and the poor while protecting
“If the debt limit is not increased, millions of Americans would be hurt, as the government is forced to halt payments for Social Security, the brave men and women in uniform, veterans' benefits,” she continued. “The shock of this default could also
Both the children and the parents can skip Social Security or Medicare tax on the child's pay, which this year comes to 13.3%. There is no limit on this exemption, and the workers also aren't liable for federal unemployment tax.
A resident on the 1700 block of 211th Place Northeast called police June 4, convinced that someone had stolen some of her social security documents and then returned them in the middle of the night. The woman told police she had set her briefcase
Johnson: As I travel around Wisconsin, I ask younger workers (unfortunately for me nowadays, that means folks 45 and younger) "What do you expect to get out of Social Security and Medicare"? Their answer is always the same, "Nothing".
Why is the current limit of income subject to social security ...
Can this administration work to raise the limit as it now allows anyone making more to pay a smaller percentage of income into Social Security? You need to work to raise the limit to 0,000 or ,000,000 to make Social Security viable without cutting benefits. Income earners making higher than the limit should have 100% of their wages subject to Social Security just like the lower and middle class. Everyone should have to pay into SS regardless of their income level. I have not heard any congressman or executive in the administration suggest this. I hope you talk about it with the President.
Social Security Withholding Limit - Bookshelf
Complete guide to federal and state garnishment
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2011 Social Security Changes: Press Office
Monthly Social Security and Supplemental Security Income (SSI) benefits will not ... There is no limit on earnings beginning the month an individual ...