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The Alliance for Retired Americans 10/28/05 news release says that President Bush has declared his intention to push for deeper budget cuts and privatization of Social Security. The giant $70 billion tax giveaway for the wealthiest Americans has not even been mentioned.
Social Security, Medicare, student loans, and Medicaid are targets for cuts.
ARA joined a coalition, Emergency Campaign for America's Priorities (ECAP), ECAP is a short-term, national campaign organized to fight plans to cut programs vital to seniors in order to finance additional tax cuts for millionaires and corporations. Created by groups including AFSCME, the AFL-CIO, and the Leadership Conference on Civil Rights, ECAP encompasses the Fair Taxes For All coalition, of which the Alliance is also a member. ECAP is a successor organization to Americans United to Protect Social Security, which was a leader in the so-far successful campaign against Social Security privatization.
The Medicare Part B premium will increase from $78.20 monthly to $88.50 monthly in January 2006. The Pension Benefit Guaranty Corp (PBGC), struggling with a giant deficit, is trying to get Congress to increase the amounts big corporations put in to protect their pensions.