Pence: Social Security & Medicare drive “runaway government spending” - AMAC & USA Today
Rare is the politician who speaks the true part out loud when it comes to federal entitlements. Ken Tran of USA Today focuses in on the former Vice President increasingly invoking his three grandchildren when he describes the financial issues facing Social Security and Medicare. On his GOP opponents he states, “They’re saying, we’re not even gonna talk about it.” On Biden he says, “Joe Biden’s policy is insolvency.” Pence goes further with, “Frankly, my former running mate’s policy is exactly the same as Biden’s. I think they’re both wrong.” The author notes Biden’s proposed budget would extend Medicare’s solvency, though we do not know by how long, by raising tax rates on those earning over $400,000. Biden has proposed no changes to Social Security and offered nothing to stave off insolvency, which experts say hits in 2023. Tran’s full article is here.
The Association of Mature American Citizens (AMAC) believes Social Security must be preserved and modernized. This can be achieved without tax increases by slight modifications to cost of living adjustments and payments to the highest income beneficiaries plus gradually increasing the full (but not early) retirement age. AMAC’s plan also increases the threshold where benefits are taxed and then indexes for inflation, and the plan eliminates reducing people’s benefits for those choosing to work before full retirement age. AMAC is resolute in its mission that Social Security be preserved for current and successive generations and has gotten the attention of lawmakers in D.C., meeting with a great many congressional offices and their staffs over the past decade. See it here.
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