The Candidates and Social Security Solvency: No Long-Term Solutions in Sight?
With the latest round of Democratic candidate debates now in the books, anyone hoping to hear a solid proposal to resolve the Social Security solvency dilemma was disappointed. In fact, as reported in a post on Yahoo Finance, the candidate positions outlined so far “fall short of the elusive goal of complete solvency.” This absence of specific thoughts on Social Security’s long-term future gave rise to a plug for HR 860 (The Social Security 2100 Act) now under consideration in Congress. HR 860, introduced by Rep. John Larson (D-CT-1), “would fund the program until the year 2100 by asking for more from every working American,” according to the Yahoo Finance post, which can be accessed here…
Social Security’s long-term future has been an issue of note for the Association of Mature American Citizens (AMAC). Dating back several years, AMAC has been advocating a legislative framework that would guarantee solvency for generations to come, with relatively minor adjustments and additional program provisions to assist future retirees in preparing for the financial realities of retirement. Most recently, AMAC has put forth an updated version of this framework, “The Social Security Guarantee Act,” a plan that combines the Association’s original platform with selected assumptions taken from legislation introduced by former Representative Sam Johnson (R) of Texas and Representative to achieve what is the best path to long-term Trust Fund solvency without raising taxes. Learn more about the “The Social Security Guarantee Act of 2017” by vising AMAC’s website.