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More on the FiscalCommisskion Issue - AEI.org
Citing the economic consequences of impending Social Security insolvency, former U.S. Senator and Visiting Fellow in the Practice of Public Policy Rob Portman recently testified before a field hearing of the U.S. House Committee on the Budget, urging the creation of a fiscal commission to help develop a path to long-term budget stability. Portman’s testimony, which you can read in full here, aligns with the Tax Foundation’s commentary posted on this site yesterday.
Describing Social Security as “part of a broader fiscal challenge,” Portman noted that the public's overwhelming preference for avoiding benefit cuts illustrates the challenge lawmakers face. He characterized it this way: “Americans can recognize the need to address the fiscal problem while opposing individual changes that may be necessary to solve it.”
Portman’s testimony discusses the structure of a commission, the importance of a bipartisan approach, and the need to educate the public on the challenges and their impact on all sectors of the population. He also discussed the Greenspan Commission, its work on the 1983 Social Security Amendments, and the resulting rise in public confidence.
Although delivered to Congress almost a month ago, recent interest in the commission issue makes Portman’s remarks particularly timely, especially following The Tax Foundation’s remarks.
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