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Behind the rhetoric over the federal deficit is the reality of a problem that must be dealt with, and questions abound: Will Washington avoid an economic train wreck? Will Social Security and Medicare take big hits? This page breaks down the issues with proposals, tools and viewpoints.
national debt
TOOLBOX
Your Guide to Understanding the National Debt, From A-Z
The key terms you need to know, plus answers to frequently asked questions. read
OK, Smarty-pants: You Balance the Federal Budget
Play our interactive game to close the gap. It may not be as easy as you think. Do
How You'd Cut the Deficit — The Results Are In
You used our budget calculator and then posted your ideas. But is Washington listening? read
The Fiscal Wars: An Interactive Timeline
See the issues that Capitol Hill lawmakers have been wrestling with — and what it all means to you. read
Out of Balance: The $607 Billion Problem
Here, at a glance, are the projected revenue and spending levels for the 2015 federal budget. It's not exactly a pretty picture. read
on the national debt
chopping block?
Medicare: Where Experts Think Congress May Look for Savings
A rundown of the kindest cuts the debt supercommittee could consider. read
Medicare, Medicaid: 8 Things the Super-Committee Could Do
A blow-by-blow rundown of the cuts in benefits that Congress could make. read
Social Security: 3 Big Things the Super-Committee Could Do
Change the cost-of-living adjustment. Add a means test. Increase the retirement age. read
Social Security: COLAs in the Crosshairs
Changes in how cost-of-living adjustments are calculated could result in shrinking payments for millions of older Americans. read
Too Much to Cut, Too Little Time?
Tight timetable, contentious politics, market turmoil and an ever-bigger budget make the super-committee's job super-difficult. read
the
plans
Obama's newest plan would spare Social Security and raise taxes on millionaires. Read
“I will not allow Medicare to become a voucher program," Obama says.
Read
points of
VIEW
Dealing for Debt Reduction
A leading defender of Social Security on the joint congressional ‘supercommittee’ talks about the challenges its members face. read
Time to Restore Fiscal Sanity
"Our political process is broken," writes David Walker, former comptroller general of the United States. read
Jim Toedtman | AARP Bulletin Editor
Time to Bury the Hatchet and Get to Work
"Both parties are playing chicken, hoping to force the other into a suicidal if courageous act of actual deficit cutting." Read
- Five things you can do to cut the budget. Read
- Budget wisdom in the classroom. Read
- Too much red ink. Read
- Financial advice for the ages. Read
understanding
the issues
Reality Check: The National Debt
Economist Dean Baker talks with AARP about how Washington is handling decisions regarding the national debt. Listen
Washington Zeroes In on a Deficit That Won't Go Away
The recommendations of two deficit panels may set up bitter partisan battles in Congress. read
where
aarp stands
You’ve Earned a Say in the Future of Medicare and Social Security
Tell Washington how you would strengthen these programs for the long term. Do
Reject Proposals to Cut Medicare Benefits
"Washington needs to stop viewing Medicare and Social Security simply as line items in the federal budget." Read
Ryan Plan Would Shift Costs to Older People
"We urge that we not upend crucial programs that will come at the cost of seniors’ health and financial security." Read
Panel Proposes Multiple Hits on Retirees
"AARP remains deeply concerned that the recommendations from the commission would take our nation in the wrong direction." Read
national debt
News
Florida Man Wills Millions to Uncle Sam
He left $1 million, along with his valuable historic home, to pay down the national debt. Read
Debt Supercommittee Calls It Quits
Automatic cuts won't affect Social Security, Medicare benefits. Read
AARP Responds to End of Deficit Panel
Fight continues for 'an approach that protects the vulnerable, promotes economic growth.' Read
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