By Robert Gavora

WASHINGTON (MNI) – House Minority Leader Nancy Pelosi Tuesday said
she is committed to a “balanced bipartisan approach” in dealing with
Medicare and Social Security cuts, and that cutting benefits in these
programs would have very negative effects on the nation’s elderly.

Pelosi and other Democratic congresswomen critized Republican goals
for Medicare and Social Security, saying they would hurt struggling
communities like senior citizens and especially women.

“Without Social Security more than half of women over the age of 65
would fall into poverty,” Pelosi said at a news conference.

Rep. Jan Schakowsky (D-Illinois), added that “women cannot afford
cuts in their benefits,” and that “Social Security cuts should not even
be on the table at this time.”

Schakowsy went on to add, “Republicans want to cut Medicare and
Social Security and not touch the million and billionairs.”

With women as a rule generally living longer than men, the Medicare
and Social Security cuts and reduced benefits would be extremely
detrimental to women with “more than half of the 47 million medicare
beneficiaries being women,” Rep. Doris Matsui (D-California) said.

Rep. Kathleen Hocul (D-New York) noted that “any cut in benefits is
a tax on seniors,” because by cutting benefits seniors have to pay more
themselves, similar to being taxed. “For 35% of black women ages 65-74
Social Security is their only form of income,” Rep. Gwen Moore
(D-Wisconsin) added.

Pelosi said she is happy with the current administration and how it
has dealt with the debt crisis and possible cuts of Medicare and Social
Security. “The President has done an excellent job working with the
debt,” Pelosi said. “I couldn’t be prouder of his leadership,” she
added.

Republicans have said under their proposals any one currently
receiving Social Security or close to receiving it would not be
affected. They have generall favored a greater portion of payroll taxes
by directed to personal investments. In any case, they said any new
option would be voluntary so workers could choose to remain in the
current system or choose something else.

** Market News International Washington Bureau: 202-371-2121**

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