A Dose of Political Reality About Social Security - The Hill
If hyperbole had wings, Washington, D.C. would float above the rest of the country. And with the presumed 2024 Presidential candidates already positioning for that run, political rhetoric surrounds us like mosquitos on a warm summer evening. Trouble is, none of the so-called pledges by the two leading 2024 candidates are accompanied by a viable plan to accomplish their promises. As described in this article by Andrew Biggs appearing at The Hill, Social Security is facing a serious financial issue – in little more than a decade, benefits for every beneficiary will be cut by between 20% -25% if Social Security’s Trust Fund reserves are depleted. Yet all we hear from the candidates are pledges not to cut the program and to fight against the other side’s intention to do so. All of which are promises without substance. Fact is, Social Security reform MUST occur soon, and can only be accomplished by compromised between the parties, as Mr. Biggs points out in this article.