Page 805 - Pensions News Today

Liabilities of pensions all over the budget and not just on the back of one group of people being our soldiers. $6.3 billion in is a lot of money in the scheme of things and in the $3.7 trillion budget its not a lot of money and we can find a lot of money to do that. >> are you suggesting it would come from other peoples pensions besides? >> youre indexing the index and what the resolution yesterday that passed the senate after the budget passed, said that we should put everything on the table a...

Unthinkable cuts to veterans benefits. >> cut the pensions of the disabl disabled military vets, are you kidding? >> are you kidding me? >> boehner, mad! >> you have people on our side of the aisle that have a really abrasive tone, that come across as knuckle-dragging neanderth s neanderthals. >> thats why they punished him by making him speaker of the house. >> do you think some of these conservative interest groups, tea party interest groups -- >> you mean the groups that came out and opposed ...

Were finally able to agree at least on something. >> i think the most important thing was for chairman paul ryan and i to agree that its easy to sit on the sidelines and throw bombs at each other and to have political talking points. the challenge that we faced is that our country needed some healing. they needed some certainty. and that we needed to establish some trust between each other to find common ground. >> lawmakers on both sides of the aisle found something not to like about the budget...

How could we have done this? >> reporter: but lindsey grahams best senate friend and well-known military vet disagrees, effectively asking how could we not? >> in the words of former secretary of defense mr. gates, said that these entitlements in the military are "eating us alive." >> reporter: john mccain says this gives him heartburn, but noted military pensions cost $52 billion last year and skyrocketed 49% over a ten-year period. >> were going to have to look at this whole issue of the pay, ...

The argument is when they get 62 theyll get that cost of living increase back. is that okay with you? >> its absolutely not okay with us and we frankly dont understand. the president as recently as september of this year said specifically that currently serving and currently retired men and women who have been in our military and made it to 20 years or obviously our disabled veterans should be grandfathered into this system and they shouldnt be affected. >> also the fact as steve pointed out, yo...

>> chief congressional correspondent dana bash has the view from capitol hill. this is expected to pass, right? >> reporter: retired admiral norv ryan pounds the marble halls of congress, refusing to give up, urging senators to restore cuts to military pensions in the bipartisan budget deal. >> soldiers are lucky if theyre under the same roof of their family for eight out of 36 months and done that for ten years, paid an enormous price up front and this is really a disgrace. >> reporter: as part...

Bipartisan compromise budget that had earlier been approved by the house of representatives. it funds the government through next years congressional elections, averting the chance of another government shutdown. our chief congressional correspondent dana bash is here. dana, pretty impressive vote if you support this compromise. >> reporter: thats right. 64-36, so it passed with some cushion, to say the least. theres certainly a lot of cumbaya over getting this budget done for the first time in ...

Decided to reduce by 1% the cost of living adjustment that retire after 20 years of service. thats people generally in their 40s. it would go back up at age 62. it would save $6.2 million. >> of all the people we could have picked on to screw, how could we have arrived here? how could we have done this? >> reporter: lindsey grahams best senate friend and well-known military vet disagrees, effectively asking how could we not? >> in words of former secretary of defense mr. gates said that these en...

With the ryan-murray budget deal that will probably pass the senate significantly and shortly. in the original budget deal, our disabled military retirees would not have their pensions cuts. pay attention. disabled military pensions would not be cut. however, now theyre going to vote on, they will get their pensions cut if they were disabled and no longer to serve. >> over 20 year period will cost $124,000. initially they said and told he is they were exempt. but upon further review, they are no...

Military pensions, that it would pass like a hot knife through butter in the house of representatives when they recon seen. >> reporter: with the senate moving from the budget to the defense authorization bill, the republican leader complain about -- complained about an overall lack of input. >> some of the most important thing we discuss as a body is rushed through without any opportunity for debate or amendment. >> reporter: and a short time ago the defense authorization bill passed a key proc...