The Social Security time bomb is ticking

Independent Newsmedia/Charlene Bisson

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OPINION — Here we go as seniors, waiting for our elected officials to fix Social Security finances. Otherwise, folks, we are going to get a discounted check. Every year that goes by makes the fix more difficult.

There are not enough funds available to pay us our current benefit. The recent estimate is a 22% reduction in our monthly checks by late 2032.

How did this happen and  how do we fix it?

First, let’s acknowledge that to fix this problem we need both parties to make those changes even though the president has a Republican majority in both the House and the Senate. 

Trump had this when he was president the first time and nothing was done.

Biden had it for two years, but his solution was to raise Social Security taxes on those making over $400,000 per year. Senate Majority Leader Mitch McConnell, a Kentucky Republican who claimed he wasn’t going to tax middle-class families, and congressional Republicans routinely blocked or rejected major tax-hiking measures.

We have Trump as president, again, and the Republicans control the House and the Senate, again.

We should be demanding they fix Social Security now. There is no real reason they cannot fix it now, instead of next year or sometime in the future.

Voters can keep voting for those who could fix this problem but so far have refused to do so. Maybe when checks are reduced by up to 22%, they can take solace in the fact that the Republicans will blame the Democrats. 

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