Older Americans Month - Slashing Funds for Our Seniors Is the Wrong Thing to Do - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
May 3, 2017 Newswires
Share
Share
Post
Email

Older Americans Month — Slashing Funds for Our Seniors Is the Wrong Thing to Do

Targeted News Service (Press Releases)

WASHINGTON, May 1 -- The National Committee to Preserve Social Security and Medicare issued the following news release:

May is Older Americans Month, but the Trump administration and Congressional Republicans are putting a serious damper on the celebration. Yes, candidate Trump promised not to touch Social Security, Medicare, and Medicaid.

But his administration has been actively undermining those pledges. Budget Director Mick Mulvaney -- who once called Social Security a Ponzi scheme -- questioned the legitimacy of Social Security Disability Insurance -- and wouldn't promise a Presidential veto of legislation to privatize Medicare (a pet project of House Speaker Paul Ryan).

President Trump champions the GOP's American Health Care Act, which guts Medicaid, undermines the solvency of Medicare, and allows insurers to charge older Americans up to five times as much as people in their 20s.

Older Americans Month (originally named "Senior Citizens Month") began in 1963 during the Kennedy administration amidst growing concern about our nation's seniors. At that time, there were only 17 million Americans aged 65 or older, compared to some 46 million today. A third of seniors lived in poverty.

Two years later, President Johnson signed Medicare and Medicaid and the Older Americans Act into law. The original purpose of Older Americans Month was to celebrate the contributions of seniors to our society. In the ensuing 54 years, it has come to embody a wider awareness of socio-economic justice for the elderly.

If the administration wanted to honor older Americans, would it have presented a "skinny budget" that needlessly hurts seniors? The President's preliminary budget slashes domestic spending to pay for a $54 billion military buildup.

The spending plan would cut federal grants that help low income seniors cope with basic needs under the Older Americans Act. The administration wants to cut $3 million the Department of Housing and Urban Development's Community Development Block Grant program, which helps fund Meals on Wheels.

This program provides some 220 million meals to more than 2 million seniors a year. Yet, Budget Director Mulvaney dismissed the efficacy of Meals on Wheels, saying it "sounds great" but "we're not going to spend [money] on programs that cannot show how that they actually deliver the promises that we've made to people."

Meals on Wheels is not the only imperiled Older Americans Act program under the Trump budget. Federal grants that help low income seniors find community service employment, isolated seniors find companionship, and struggling seniors heat their homes also face deep cuts. The President has also done seniors no favors by practically flat-lining the budget for the woefully underfunded Social Security Administration (SSA).

Deep budget cuts have already forced SSA to freeze hiring and close field offices across the country. Without a serious budget boost, wait times for the Social Security claims helpline will continue to climb -- and the average 500 days it already takes to get a disability hearing will likely soar beyond two years. Some 8 thousand applicants died last year waiting for adjudication of their disability claims, yet Trump's budget proposal fails to provide the funds SSA needs to improve service.

Targeting programs that benefit seniors to help pay for a tax cut for the wealthy is simply unjust. Seniors are among our most economically vulnerable citizens. Over half of workers between the ages of 55-64 have no retirement savings. According to SSA, 69 percent of all seniors rely on Social Security for at least half of their income. One out of every five senior citizens is trying to scrape by on an average income of just $8,300 a year.

During Older Americans Month, we will no doubt hear once again the myth that Social Security is going "bankrupt" and needs to be "reformed" (translation: raising the retirement age and cutting benefits for seniors, the disabled, and their families).

House Social Security Subcommittee Chair Sam Johnson introduced a bill in the last Congress that would do those very things. On the other side, Senator Bernie Sanders and Rep. John Larson have introduced legislation that would keep Social Security solvent for 75 years while protecting Cost of Living Adjustments (COLAs) and modestly boosting benefits.

We will also continue to hear that Social Security is an "entitlement" that adds to the deficit. In fact, it is a self-funded earned benefit that doesn't contribute a penny to the deficit. Social Security represents a commitment to Americans who paid into the system during their working years and rightly expect to collect livable benefits when they retire or become disabled.

The administration is expected to release the President's full FY 2018 budget sometime in May. It may contain more granular detail about proposed cuts to Older Americans Act programs. It may even feature some further fudges on the President's promises not to cut Social Security, Medicare, and Medicaid. During this Older Americans Month, we must remember that slashing seniors' programs may satisfy the appetites of budget hawks in the administration and Congress, but it is hardly a responsible -- or moral -- choice.

Older

Insurance Committee Endorses Rep. Terry’s Measure to Protect Life Insurance Beneficiaries

Newer

Trump Administration Says It Will Try to Legalize Anti-Transgender Discrimination in Health Care

Advisor News

  • Women say their advisors respect them, but talk down to them
  • How PEPs compare with traditional 401(k)s
  • Allianz studies why 42% of Americans retire sooner than expected
  • Why advisors should be talking about life settlements
  • Millennials are ready to bring their advisor to the family table
More Advisor News

Annuity News

  • NAIC regulators continue pushing for annuity illustration updates
  • Wink: Flat first-quarter annuity sales fall just short of $100B
  • 26North Re Agrees to Acquire 100% of Independent Insurance Group
  • Matthew Michelini named Athene president, with an eye on annuity growth
  • Lincoln Financial Announces Executive Leadership Transitions
More Annuity News

Health/Employee Benefits News

  • NEW YORK SENATE VOTES TO MODERNIZE PAID MEDICAL LEAVE BENEFITS FOR WORKERS FACING CANCER AND SERIOUS ILLNESS, ACS CAN CALLS ON ASSEMBLY TO DELIVER FOR PATIENTS AND PASS BILL
  • Cuts coming to Kentucky Medicaid program, social services and more
  • Parker: Investment helps healthcare crisis
  • How AI is moving health-care costs in the wrong direction
  • Advocates say feds' Medicaid work rule could make qualifying for healthcare needlessly hard
More Health/Employee Benefits News

Life Insurance News

  • Prudential announces more layoffs as insurer continues to restructure
  • Pradip Patiath Joins Securian Financial Board of Directors
  • Over $107 million in life insurance benefits located for Tennesseans in 2025
  • Study Data from National Institutes of Health Provide New Insights into Law and the Biosciences (Taking actuarial fairness seriously: what is required for the ethical use of genetics in insurance?): Legal Issues – Law and the Biosciences
  • 26North Re Agrees to Acquire 100% of Independent Insurance Group
More Life Insurance News

- Presented By -

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Aim higher during Annuity Awareness Month
Raise the bar with our diverse portfolio of Ascend annuities, backed by superior financial strength

Maximize Your FIA Case Results
Learn a repeatable process to review, reposition, and present FIA opportunities with confidence.

You Could Be Losing Up to 20% of Your Commissions
GreenWave helps you find, fix, and prevent commission errors.

True Independence Means Having Choices
Cambridge offers flexibility, stability, proven tools—no private equity strings attached.

Life moves fast. Your BGA should, too.
Stay ahead with Modern Life's AI-powered tech and expert support.

Press Releases

  • RFP #T01625
  • Rockwood Programs Appoints Kerry Ladouceur as Vice President, Financial Lines
  • JP Insurance Group Launches Commercial Property & Casualty Division; Appoints Joe Webster as Managing Director
  • Sequent Planning Recognized on USA TODAY’s Best Financial Advisory Firms 2026 List
  • Highland Capital Brokerage Acquires Premier Financial, Inc.
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.
Insurance News | InsuranceNewsNet