Marc Goldwein: As Demagogues Squawk, Clock is Ticking on Social Security
Marc Goldwein is the Senior Vice President and Senior Policy Director for the Committee for a Responsible Federal Budget. He recently wrote an opinion piece for The Hill. An excerpt of it appears below.
Another year has passed with our leaders in Washington doing exactly nothing to fix Social Security. As this week’s report from the program’s trustees makes clear, inaction is costly; and time is running out to secure the program.
According to the trustees, the Social Security trust fund will become insolvent by 2034, at which point all beneficiaries regardless of age or income will face an immediate 21-percent benefit cut.
2034 might seem far away, but as our interactive tool shows, it’s really not.
"My Views" are works published by members or staff of the Committee for a Responsible Federal Budget, but they do not necessarily reflect the views of all members of the Committee.