Reader says concern over solvency of Social Security is overblown
To the Editor:
There is absolutely no good reason for politicians (mostly conservative-Republicans) to scare our senior citizens by threatening to cut Social Security Retirement benefits. There is no so-called “crisis.”
Virtually every serious, non-biased study has concluded that the Social Security Trust Fund is fully solvent through 2034. After that, it will be able to provide 76%-79% of benefits for the next 60 years after 2034.
Does it need to be fixed? Of course it does. But it does not have to be done today, and there is no need to cut anyone’s benefits.
One of the relatively simple and easy “reforms” that can be made was proposed in 2015 by Republican Presidential candidate and New Jersey Gov. Chris Christie.
I literally sat in the same car as Democrat presidential candidate and Arizona Gov. Bruce Babbitt in 1987 when he said that what we should do is to “Means-Test” Social Security benefits.
For example, we can make Social Security fully solvent well beyond 2034 by reducing the benefits of those who have a yearly income of, say, $80,000/year and higher by a certain percentage. I can still recall Governor Babbitt saying to me “Stew, do multimillionaires really need the same Social Security benefits as senior citizens who are living in poverty?”
I am calling upon all U.S. senators and members of Congress to stop scaring our senior citizens.
Something that might happen in 14 years that is easily preventable and solved is NOT a so-called “crisis”, and they all know it. It is so unnecessary and cruel for our senior citizens to be scared like this.
Stewart B. Epstein
Rochester, New York