Fighting Social Security Reform Is the Worst Thing Lawmakers Can Do for Seniors

Kathryn Nix / November 08, 2010

When the next Congress arrives in Washington, Members will need to get to work to reduce runaway government spending. One area that has been identified as a good place to start—especially as the National Commission on Fiscal Responsibility and Reform prepares to give its recommendations on deficit reduction next month—is Social Security.

Today’s Social Security will begin to run cash-flow deficits starting in 2015. Once they start, those deficits will never end. There is a trust fund that allows Social Security to receive general revenue money, but it will run out in 2037.

What happens then? A 22 percent benefit cut for all beneficiaries of the program, regardless of age or financial need. That includes lower income retirees who depend solely on Social Security to afford food and a roof over their heads. A 22 percent benefit cut will make their lives much harder. (more…)