Continued negotiations to attempt to avert the fiscal cliff continued to move at a slow, slow pace this week, though – as feared – the delicate issue of cutting America's retirement benefits to help pay the way has finally been broached.
According to the Washington Post, while Democrats complain that the Republicans have yet to offer their own solution that would preserve tax cuts and raise revenue from the richest wage-earners in the country, Republicans counter that President Obama has yet to figure out a way to effectively hold back costs for Social Security, Medicaid and Medicare.
Thursday is scheduled to see the first major negotiations on the issue, though representatives of House Speaker John Boehner (R-Ohio) said they hoped that Democrats would also appear with their own ideas on how to control retirement benefit spending.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
