This Labor Day, Social Security’s Future Hangs in the Balance

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    • #355931
      • Total Posts: 6,518

      This Labor Day, as we sprint toward the November election, the future of Social Security is on the ballot. Donald Trump is devastating the nation, and not only by his incompetent handling of the pandemic. He threatens the economic security of America’s families by defunding, and apparently planning to destroy, Social Security.

      That is not an overstatement. On August 8, Donald Trump took the unprecedented step of unilaterally deferring about $100 billion of Social Security’s dedicated revenue. As he did that, he bragged that, if reelected, he would “terminate”—his word—Social Security’s dedicated revenue. (Elsewhere, I have explained how, if reelected, Trump could continue to unilaterally defer Social Security’s dedicated revenue and literally kill Social Security as we know it.)

      Just as justice delayed is justice denied, delaying Social Security’s dedicated revenue is the foolproof way to deny Social Security benefits. Denying those benefits would provide Trump and his allies in Congress enough leverage to force whatever concessions they choose to extract.

      According to a letter (pdf) released by Stephen Goss, the independent Chief Actuary of Social Security, Trump’s plan to “terminate” Social Security’s dedicated funding if he is reelected would destroy Social Security. Goss states that if Social Security’s funding were terminated, the Disability Insurance (DI) Trust Fund would be exhausted by 2021 and the Old Age and Survivors Insurance (OASI) Trust Fund would be exhausted by 2023 “with no ability to pay benefits thereafter.” Goss is not a politician, but rather a hard-working civil servant who has served under every president since Richard Nixon.

      This should put all supporters of Social Security on red alert. It is easy to become overwhelmed by this chaotic president. He does not hide his contempt for prisoners of war, Gold Star families whose loved ones have paid the ultimate price, and others who serve the greater good. He urges Americans to commit felonies by voting twice. He slows down the mail, including deliveries of life-saving medications, to help him remain in power. He attacks truth itself. So, he undermines Social Security? What’s the big deal?

      Jesus: Hey, Dad? God: Yes, Son? Jesus: Western civilization followed me home. Can I keep it? God: Certainly not! And put it down this minute--you don't know where it's been! Tom Robbins in Another Roadside Attraction

    • #355937
      • Total Posts: 1,546

      Goes on to argue Biden wants to”expand” social security lol

      The opinions and personal views expressed herein are solely those of the author, and should never be taken seriously.

    • #355939
      • Total Posts: 1,311

      What Biden’s been saying since 1975 or what he’s been saying since last week?

    • #355943
      • Total Posts: 4,624

      That proposal would be a wee bit believable if Pelosi has already committed to not stabbing it in the back and drowning it in the tub if and when it actually got to her.  And then going on another vacation.  This is all vote for the blue campaign blather.  IMO, etc. etc. etc.  We are fucked either way.

    • #355969
      a little weird
      • Total Posts: 702
    • #355970
      • Total Posts: 1,961
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