The Political Landmine That Social Security Regrettably Continues to be - AMAC & The Hill
There’s a reason almost no politician talks about reforming Social Security, even in the face of its looming insolvency. “Touch it, and you die” is the way most have described the program for decades. Sen. Ron Johnson (R-WI) is the latest to touch the topic, stating that Social Security and Medicare should both be part of the annual appropriations process rather than be on automatic pilot. Johnson claims that is the only way to “look” at the programs and ultimately save them for the future. Of course that is just the opening his opponents were hoping for to pounce with familiar refrains of, “Aha – look – he wants to cut or get rid of the program.” Alexander Bolton writing in The Hill covers all angles of the recent kerfuffle on Johnson’s remarks and what they mean politically and substantively. Of course lost in all of this is the fact that in just over a decade everyone’s Social Security benefits will be automatically slashed about 23%, as the program’s reserves will have dried up, leaving it only the ability to pay benefits commensurate with incoming revenue. Predictably politicos of both parties just ignore that fact, pretending not to know this, despite the program’s Trustees yearly reports warning that Congress must enact changes soon. Bolton’s full piece is here.
The Association of Mature American Citizens (AMAC) believes Social Security must be preserved and modernized. This can be achieved with no tax increases by changing cost of living adjustments, the retirement age, and delayed credits. AMAC advocates for a bipartisan compromise, “The Social Security Guarantee Act,” taking selected portions of bills introduced by former Rep. Johnson (R-TX) and current Rep. Larson (D-CT) and merging them with the Association’s own research. One component is Social Security PLUS, a voluntary plan to allow all earners to have more income at retirement. This component is intended to appeal especially to younger workers. AMAC is resolute in its mission that Social Security be preserved and modernized and has gotten the attention of lawmakers in DC, meeting with a great many congressional offices and their staffs over the past several years. Read AMAC’s plan here.