"I'm very pessimistic about our ability to meet people's needs," Clark said. "This will be a mind-boggling, self-inflicted wound. It makes no compassionate, political, or economic sense."
For many elderly especially, $3,250 in the bank serves as "the poor man's medical insurance," Clark said.
That sounds about right, said Doris Gray, 72, a divorced, college-educated former graphic artist from Mount Airy with a heart condition who gets $200 a month in food stamps.
Rent, insurance, and medical costs are more than her $1,079 monthly Social Security check. She relies on $14,000 in savings to survive, but Gray estimates it will be depleted in two years.