Social Security for Family Leave? It’s Controversial.
Sen. Marco Rubio introduced a bill that would allow parents to cash in a portion of their future Social Security benefits early to finance family leave. The proposal is to give new parents the option to take at least two months of paid leave in exchange for delaying Social Security benefits for three to six months after retirement. But as Amelia Irvine writes in the conservative publication, The Federalist, the idea could worsen the program’s already dire financial situation by draining away funds more quickly. The reason is the money paid in by current workers is not actually “theirs”. It goes right out to current beneficiaries. This proposal is sure to get a lot more press, and there will be arguments pro and con. Deficit hawks and the fiscally prudent appear to be more skeptical of the idea. Read more.