GOP Lawmaker Explains How He Can Fix Social Security

( Social Security is one of the most popular programs administered by the federal government, so politicians are usually reluctant to propose changes to it. Doing so is widely regarded as political suicide. There’s a problem, though: The measure is quickly becoming unaffordable. One Republican congressman thinks it’s time we face that fact and do something to fix it.

On March 20, the Republican Study Committee (RSC), a group made up of over 170 House Republicans, released a new set of budget proposals. One of those proposals calls for “modest adjustments to the retirement age” – a suggestion that isn’t going to be popular among Americans looking forward to retirement. However, Social Security can’t go on as before because the country simply can’t afford it.

When the Social Security Act passed in 1936, life expectancy in the US was 60.7 years. Now, it’s over 78 years, but retirees still become eligible for Social Security payments at age 62 and can get full benefits at age 67. This means that in 1935, the average American would never get any payments at all, but now they claim them for more than 16 years. It also means the cost of the program has ballooned, and if nothing changes, Social Security will go bankrupt in 2033.

RSC chairman Kevin Hern (R-OK) says it’s time to accept reality and increase the retirement age. He isn’t proposing a dramatic increase; he suggests raising the qualifying age for full benefits from 67 to 69. However, even that is controversial.

The White House has already jumped on the proposal, claiming the GOP wants to slash social security. Hern denies that, saying his proposals wouldn’t affect anyone who’s already retired or close to it. However, he also insists that there are only three ways to save the program: Increase the retirement age, reduce payments or have more workers paying into the program.

Bringing in more immigrants to boost the workforce is only a short-term fix because one day, they’ll retire, too. Cutting payments is unacceptable. Hern says his plan can save Social Security from Insolvency –- and warns that “Joe Biden has no plan.”

Copyright 2024,