Mum’s the Word on Social Security this Campaign Season — But why?
Jeff Szymanski works in political communications at The Association of Mature American Citizens. He wrote this piece to explain why the Social Security issue is absent from this year’s campaign.
You would think with Social Security running a deficit (spending more on benefits than it is collecting in revenue) for the first time since 1982 that candidates for the U.S. House and Senate would be jumping over one another to propose solutions. After all, over 62 million people collect Social Security benefits. The Social Security Trustees reported in June that the program will run a deficit every year from 2018 through 2034, at which time Social Security will officially be insolvent. Full promised benefits continue now to recipients only because past reserves (surpluses) are being used. All reserves will be depleted by 2034, perhaps earlier with a recession.
Sadly, politicians have learned that Social Security is like an electrified fence– touch it and you die (metaphorically speaking of course). Both parties have demagogued on the issue of Social Security over the years, though Democrats are running ads all over the country this election cycle accusing Republicans of cutting or wanting to cut Social Security and Medicare. There is no evidence of course, but this is politics, and one can and will say almost anything if it can garner more votes. What is lost is an honest discussion about a serious problem. In a little over a decade, without congressional action, benefits will be cut automatically by over 20% across the board as per the law. Social Security can only pay out commensurate with what it takes in. There will be no more surplus on which to draw.
Political leaders understand the problem is demographic. People are living longer, and families are having fewer children. It’s a double whammy to the program. Among the proposed solutions include increasing payroll taxes and/or the tax cap, increasing the retirement age, and further means-testing the program to alter benefits at the higher levels.
It is the public that likely does not comprehend what is happening with Social Security. Who can blame them? Their leaders ignore the issue. It will likely take public education campaigns for voters to demand action by their leaders to affect any change. That is why articles such as these are so important. Voters must understand that lines like these from politicians, “Social Security is off the table” or “I propose no changes to Social Security” or “Social Security must be preserved” really equate to this: “I am too timid to propose anything. I favor letting across the board cuts of over 20% in Social Security take effect for all.” Consider that when sizing up the candidates.
The Association of Mature American Citizens (AMAC) advocates for a strengthening of Social Security and has developed a bipartisan compromise bill, titled “The Social Security Guarantee Act,” taking selected portions of bills introduced by Rep. Sam Johnson (R-TX) and Rep. John Larson (D-CT) and merging them with the Association’s original legislative framework to create the new Act. AMAC is resolute in its mission to get the attention of lawmakers in DC, meeting with a great many congressional offices and their legislative staffs over the past several years. Learn more about AMAC’s Social Security Guarantee here…