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Campaign Update: Knives Getting Sharpened on Social Security Rhetoric
It’s something that the public–especially the voting public–is likely getting accustomed to, since we’re moving deeper into the presidential election cycle. But earlier this month reelection candidate Donald Trump saw his CNBC Squawk Box program generate intense blowback from a variety of pundits. His unfortunate use of the terms “entitlements” and “cutting” in the same sentence created the need for his campaign staff to go into active walk-back mode, as noted in a Newsweek post today by Aliss Higham. Her post recaps the actual comments made by President Trump, as well as the defensive explanations from his staff along with a further definition of the looming solvency problem and its potential effects for beneficiaries. Read the full post here.
Quoting James B. Lockhart, SSA COO under former U.S. President George W. Bush and currently a senior fellow at the Bipartisan Policy Center, Ms. Higham writes, “With the impending election and both Biden and Trump fearing elderly voters, neither will face up to the massive impending deficits at Social Security.” This unfortunately realistic view sets the stage for continued inaction on the financial cliff ahead of Social Security, now about eight years away. Let’s hope the next Administration can muster the political will to tackle the problems in time to ward off devastation for America’s seniors.