Social Security’s Looming Insolvency Debated Live
Rep. Byron Donalds (R-FL) and MSNBC’s Joy Reid went head-to-head on the issue of Social Security’s financial future last night’s The ReidOut show, with Reid taking the uninformed view that the projected depletion of the program’s cash reserves is not a fact. Without offering support for her opinion, Reid repeatedly rejected Donalds’ assertion of the undeniable fact that Social Security “is going to be insolvent in 2035.”
As reported often on this site, the Social Security solvency issue has been developing for quite some time, with the trust fund balances, as of 2021, now in a state of decline. The projections Donalds used in his argument are straight out of the 2022 Trustees Report to Congress, although his comment should have been extended to include the caveat that the insolvency would be the result of Congress’ continued inaction on a resolution.
Daily Caller contributor Kevin Tober summarizes the interview discussion (or, argument) in an article posted on newsbusters.org. Check it out here…