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Is Social Security Reform Even Possible? - Motley Fool
Much as been written recently about the importance of reforming America’s most important retirement program – Social Security. Hyperbolic articles are published in newspapers and magazines almost daily, TV commentators regularly espouse the need for change, and blogs and websites often highlight the importance of reforming this program which so many American seniors rely on. But only Congress can make the changes necessary to restore Social Security to solvency and avoid an across-the-board cut in benefits if the Trust Funds are depleted in the mid-2030s. So, why hasn’t Congress acted on this looming financial issue? Well, as articulated in this Motley Fool article by Sean Williams, because each political party has its own ideas for how to resolve the issue, and neither will compromise. Interestingly, the article focuses on President Biden’s changing position on the topic, from many years ago and more recently when campaigning for president, but admits to no understanding of Biden’s current stance on Social Security reform. What’s clear from the article, however, is that reform will only happen with a bipartisan compromise, which seems elusive in today’s Washington, D.C. political climate. Click here to read the Motley Fool article.
AMAC (the Association of Mature American Citizens) has been at the forefront trying to strengthen Social Security by developing and proposing its Social Security Guarantee. AMAC has been discussing and continues to discuss this common-sense solution, which fixes Social Security’s issues without raising taxes, with Congressional Representatives in its efforts to protect America’s senior citizens who rely on Social Security. To review AMAC’s Social Security Guarantee, click here.