Sad state of affairs … Social Security

rdquinn

Sep 1

The latest Nationwide Social Security survey shows older Americans are increasingly concerned about the program's solvency in the near term, with 75% of adults age 50 and older saying they believe Social Security will run out of funding in their lifetime.

Nearly 25% don't expect to collect a penny in benefits.

Facts don't support any of the above, but it's not hard to understand such views when people hear things like this.

Senator Rick Scott (R-FL) proposed a plan where Social Security would have to be reauthorized by Congress every five years.

*Senator Ron Johnson (R-WI) said that Social Security spending should be considered "discretionary spending" and subject to routine budget negotiations every year, even though the program is self-funded by workers.

Such positions are nonsense and display an ignorance of the program and it's funding. The program is funded as it is for a reason. As Roosevelt said, "With those taxes in there, no damn politician can ever scrap my Social Security program."

The shame of it all is that even after years of delay and Congress not doing its job, making Social Security solvent and sustainable is quite easy with several relatively minor changes over time. And yes, of course that includes higher payroll taxes.
One way or another, everyone must fund their own retirement.

Even if we would like it to be otherwise, Social Security is the financial foundation of retirement for the great majority of Americans. Perhaps that should not be the case, but it is reality and will always be so. We should be strengthening the program and funding the trust accordingly