Republican Representative Eric Ryan (the likely chair of the House Budget Committee if Republicans take the House) on his proposal for Social Security:
"The Ryan plan would cut traditional guaranteed Social Security retirement benefits substantially compared to the benefits now scheduled to be paid. Much of the reduction would stem from the adoption of what is called "progressive price indexing," which would reduce the benefits of future retirees except for the bottom 30 percent of wage earners. For the average new retiree, defined benefits would be reduced by about 16 percent in 2050 and about 28 percent in 2080. Reductions would be greater for retirees with higher earnings."
Young Guns: A New Generation of Conservative Leaders, Rep. Eric Cantor (R) and Rep. Kevin McCarthy (R)
from the Orange Devil
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