Via Area Agencies on Aging Association of Michigan Aging Network News
The National Association of Area Agencies on Aging has called on Congress to reject any tax cut proposals that fail to recognize the fiscal realities of the aging of our nation and/or would undermine critical aging programs. Since 10,000 Baby Boomers turn 65 every day now and the older adult population is expected to hit 20 percent by 2030, all major budget and policy decisions must reflect this reality.
The proposals being considered now would lead to massive spending cuts to health care, social insurance, and safety-net programs that serve millions of older adults and caregivers. In fact, the proposals would increase the national deficit by $1.5 trillion and allow lawmakers to slash spending for federal non-defense discretionary programs, including critical aging and disability programs, by $800 billion; reduce Medicare by $473 billion; and slash Medicaid by more than $1 trillion, all over ten years.
Sandy Markwood, CEO of the National Association of Area Agencies on Aging, has stated that any federal budget strategy that would devastate federal health care, social services and income support programs to pay for tax cuts that primarily benefit the wealthiest is irresponsible and fails to accommodate the current fiscal and demographic realities that the country faces. She noted that now is the time to be investing in critical aging programs that keep millions of older adults healthy and enable them to age in their homes and communities.