Sen. Cassidy Calls Out Leading Presidential Contenders on Social Security Positions
Expressing extreme displeasure with the stance President Joe Biden and presidential challenger Donald Trump have taken on Social Security reform, Sen. Bill Cassidy (R-LA) cited the importance of having presidential candidates who can meet the financial challenges facing the massive senior benefit program. In a post on DailyMail.com, U.S. Political Reporter Morgan Phillips explains Cassidy’s frustration that both Biden and Trump “have made Social Security attack fodder” while expressing rhetoric that seems to support disinterest in taking the steps needed to ward off the impending catastrophe.
“Cassidy has been on a crusade to change the dialogue, and take Social Security reform right up to the top of the ticket on both sides,” notes Phillips. Her post notes that Cassidy, along with Sen. Angus King (I-ME) and a bloc of more than a dozen senators, has assembled a legislative approach that is almost complete and that, in Cassidy’s opinion, “is a good faith effort to move the ball forward” on Social Security reform. The legislation proposed by Cassidy’s group revolves around the creation of a $1.5 trillion investment fund to be used to cover three-quarters of the Social Security program’s costs over a 70-year horizon, although the origin of the initial funding is undefined at this point.
Ms. Phillips’ article closes with a summary of Cassidy’s concern that the lack of candidate interest in his (or presumably, any other) proposals would preclude any meaningful progress to address the solvency problem. Of course, absent a workable solution endorsed by Congress and the President, the endpoint is clear–a devastating benefit cut for America’s seniors less than a decade from now. And brinkmanship is not the answer, since the longer it takes to begin turning the ship around, the more draconian the course changes will need to be.
Read Ms. Phillips’ post in full here.