Can Biden Save Social Security and Medicare?
In this interesting Chicago Tribune editorial piece appearing in the Akron Beacon Journal, a case is made that, as President, Joe Biden has an opportunity to do what Presidents before him have studiously avoided – tackle head-on the looming financial crises faced by both Medicare and Social Security. According to program trustees, both of these important programs will become insolvent in the not-too-distant future – Medicare Part A (Hospitalization coverage) in 2026 and Social Security in 2034. And the future financial crises facing both programs have been known for decades.
The Chicago Tribune editorial posits that because of Biden’s age he is almost certainly a one-term President, affording him a special luxury of being able to govern without worry about reelection. Such freedom would allow him to forcefully address the issues facing these two crucial American programs, both normally considered a “third rail” for anyone desiring to continue in politics. The editorial doesn’t take a position on potential program fixes, but rather focuses on how a President Biden is uniquely positioned to save both programs, a feat his predecessors, back to President Reagan, have been unable to accomplish. Click here to read more.
AMAC 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 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.