The aptly named Deficit Commission has a deficit of wisdom and good judgment.
It looks like much of their focus is on fixing Social Security.
Social Security does not need to be fixed.
Social Security is able to pay full benefits through 2037. After that, benefit payments would be reduced by 25 percent. The 25 percent reduction wouldn’t be necessary if only a minor change is made. By simply raising the Social Security tax cap from $100,000 a year to $500,000 a year, Social Security could pay full benefits far into the future.
Instead of proposing minor changes to Social Security the Deficit Commission wants to make dramatic changes like increasing the retirement age and cutting benefits for current retirees and disability beneficiaries.
Such dramatic changes are unnecessary and it’s important to remember that Social Security doesn’t add to the deficit. Social Security is the most popular government program in America.
It helps senior citizens and people with disabilities have enough cash and health care to survive and it brings money into rural and urban communities.
The changes being considered by the Deficit Commission will destroy Social Security as we know it.
So, why is the Deficit Commission willing to destroy such a popular program? The Deficit Commission is doing the bidding of Wall Street CEOs who can’t wait to get their grimy hands on the Social Security Trust Fund.
We, the people, need to let the president and Congress know we don’t want drastic changes to Social Security.