Friday, March 18, 2016

Sorry, Donald, But Cutting Waste, Fraud And Abuse Won't Save Social Security

Everyone talks about “reforming” Social Security. There’s no question it’s needed. The program is already running annual deficits and faces a massive future shortfall. Fixing it will require either tax hikes, benefit cuts, the inclusion of private accounts, or some combination of the three.
But presidential front-runner Donald Trump avoids this for what he believes is a better idea: He would “do everything within my power not to touch Social Security, to leave it the way it is.” Instead, he would “get rid of waste, fraud and abuse, which is rampant in this country, rampant, totally rampant.”
IBD has already written about Trump’s problems with arithmetic. He pushes the idea that fixes for the nation’s most profound fiscal problems are simple.
Sure, we’ll give him his due. Waste, fraud and abuse are serious problems across our sprawling federal bureaucracy. Rooting them out is an effort to be applauded.
But getting rid of waste, fraud and abuse won’t come close to saving Social Security from cuts. Not by a longshot.
Read the rest of this IBD op-ed HERE.

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1 comment:

cimbri said...

Just raise taxes 1%, problem solved.