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Social Security cutbacks reviewed
Wed August 21, 2013
Possible Congressional Cuts Could Deeply Impact Economy
An advocacy group for Social Security and Medicare says their officials were surprised when they ran a report showing Wisconsin's 7th Congressional district has one of the highest impacts from Social Security in the nation.
The National Committee to Preserve Social Security and Medicare's Dan Adcock says they took numbers from the Social Security Administration and broke them down by congressional district. Adcock says, not surprisingly, that districts in Florida topped the list, but the district that covers much of northern and central Wisconsin was very high up the list....
"..we're talking about a billion dollars per Congressional district...in the 7th Wisconsin...is way over average at $2.3 billion of Social Security income over the course of the year..."
That money is distributed among approximately 167,000 people who are either retired, on disability or widows, widowers or children. Adcock says that money has a large economic impact within this congressional district. The lobbying is underway as Congress considers cutting cost of living increases for receipients called the "chained CPI"...
"....that would take a hit in each Congressional district. It's something that over time that compounds...it snowballs. The initial hit is going to be in the millions of dollars...."
In the nearby 8th Congressional District there are almost 142,000 receipients with $2.31 billion dollars received.