Heard on the Hill
"Hot potato" Fears May Inhibit Early Action on Social Security - American Enterprise Institute
Voters answered the question of Congress's control on November 3, but what does that mean for Social Security’s rapidly advancing insolvency? You know, the cliff millions of American seniors will hurtle over if nothing changes. Avoiding the cliff will require corrective action—read: tax increases, benefit cuts, or a combination of both—which is another reason the most visible may be less aggressive than originally anticipated.
Andrew G. Biggs, AEI Senior Fellow, explores how the newly configured Congress may approach this major problem, more than four decades in the making. Read his always insightful comments here.
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