September 22, 2012
Where's the Leadership on Social Security?
In 2010, the Social Security Trustees Report said Social Security would be able to fulfill all current obligations until 2036. In 2011, that estimate was bumped to 2035, and this year it was changed to 2033. Clearly, the program must be reformed, yet many Washington politicians think like Senate Majority Leader Harry Reid (D-NV), who said in January 2011 that "Social Security is a program that works and is fully funded for the next 40 years" and that "the arithmetic on Social Security works." Any politician who thinks Social Security "works" for the American people is either dishonest or not paying attention to the facts. This was starkly outlined recently by Charles Blahous, a trustee for Medicare and Social Security. In a paper published through George Mason University's Mercatus Center, Blahous explained the bleak situation Social Security finds itself in. From the paper: Social Security's future, at least in the form it has existed dating back to FDR, is...(Read Full Article)