Social Security

Political Football

Social Security 'is under attack,' say these congressional Democrats

The Social Security program is under attack and needs to be modernized and strengthened, according to a new report from Democrats on the Joint Economic Committee, which recommends policy to Congress. 

"Cuts to Social Security are not a credible solution to pay for the $1.9 trillion that Congressional Republicans have recently added to the deficit in passing their tax legislation," Sen. Martin Heinrich of New Mexico, the committee's ranking Democrat, said in a statement to CNBC. "We must ensure that our seniors are able to retire with dignity."

DYI:  Social Security is a small problem to put back into balance between in and out flow of funds.  All that is needed is to advance the retirement age by one month every year for the next 24 years thus increasing retirement by 2 years.  This could have been done starting in the early 1990’s but alas neither political party had the stomach to make such changes.  The trust fund [IOU’s] is slated to be exhausted by 2034 or 16 years from now if nothing is done requiring Social Security to reduce benefits by approximately 25%.  For now both political parties are using Social Security in attempt to gain an advantage over one another while achieving nothing. 

 DYI