GOP cuts to Social Security budget would increase wasteful spending: actuary

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He made the estimate in response to a query from Rep. Xavier Becerra (D-Calif.), who serves on the Ways and Means subcommittee that oversees Social Security.

“First they voted to end Medicare. Now they have proposed slashing almost $800 million from Social Security’s operating budget. What’s worse, the bulk of this reckless cut would shortchange Social Security’s ability to fight waste, fraud and abuse," he said in a statement.

The 2011 House-passed budget would have transformed Medicare into a system where future seniors would have to buy private insurance with government subsidies. The 2012 budget makes this optional. The GOP says this saves Medicare from collapse, while Democrats say it ends the guarantee of coverage on which seniors depend.

So far, no full committee markup has been scheduled on the Rehberg bill. It is the last of the 12 annual appropriations bills to come forward in the House.

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