Social Security & Medicare “off the table,” but the Solvency Issue Still Exists - USA Today
After a spurious accusation disrupted the President’s State of the Union message, media and Congressional pundits have joined in a chorus of praise that Social Security and Medicare are now “off the table” in negotiations to raise the national debt ceiling. The political consequences of any suggestion to reform either program seems to now hover over all conversation about Social Security and Medicare, and hyperbole abounds! But the problem isn’t going away – Medicare’s Hospital Insurance Fund will be depleted in 2028, and Social Security’s Trust Fund reserves will be gone in about 2035 – which means benefits in both programs will be reduced if reform isn’t addressed soon. This USA Today article by Sarah Elbeshbishi poses the important question – how will Social Security and Medicare now be saved from insolvency? The article does not provide an answer, but just raising the question emphasizes the seriousness of the issue – Social Security and Medicare reform must be addressed by Congress soon to avoid benefit cuts to both programs in the near future. Click here to read more.
AMAC has been at the forefront trying to strengthen Social Security by developing and proposing its Social Security Guarantee which restores the program to solvency without raising payroll taxes. AMAC has been discussing and continues to discuss this common-sense solution with Congressional Representatives in its efforts to protect America’s senior citizens who rely on Social Security. To review AMAC’s Social Security Guarantee, click here.