Pols Fiddle While Social Security Burns

Congress must think money grows on trees as it blinks at Social Security’s looming insolvency. Pols keep winking at inflating benefits while ignoring any kind of future fiscal responsibility. Is there a Yoda with a brain in the room?

Nor is President Biden helping any as he, like any other demagogue, suggests HE is for “protecting” retiree largess at taxpayers’ expense while his reform-minded GOP critics want to deprive the grand folks of their hard-earned govt safety net. But, the science, er, the facts speak for themselves. As Fox Business recently noted, “Social Security is on a fiscal trajectory that could result in benefits being cut by about 25% a decade from now if Congress fails to act.” That Armageddon-like message is according to the director of the nonpartisan Congressional Budget Office.

Besides the irrepressible aging of our society, the biggest immediate problem, arguably, is the COLA aka uncapped mandated annual inflation adjustments, especially as Joe’s “great” economy is getting roiled by skyrocketing interest rates & inflation. Meanwhile, CNBC notes how Mr. Biden’s proposed 2023 budget calls for “protecting & strengthening” Social Security, i.e., “improving service” aka pay hikes for staffers via a $1.8 billion or 14% budgetary bump; another $224 million would be added to the program’s going after fraudsters. BUT AS USUAL THERE IS NO MENTION OF “HELPING TO RESOLVE THE PROGRAMS INSOVENCY ISSUES.” And, progressive orgs like the National Cte to Preserve Social Security & Medicare say they are “disappointed” Joe’s budget doesn’t include “a much-needed increase in benefits …” One Dem bill wants to provide a “benefit boost for new & existing beneficiaries, or 2% of the current average benefit.” HOW? WITHOUT HASTENING SOCIAL SECURITY’S INSOLVENCY DOOMS DAY? MORE TAXES! Of course. Easy peasy.

Davd Soul