General Discussion
In reply to the discussion: Criticize the President? We should not even be having serious conversations about this. [View all]Life Long Dem
(8,582 posts)"The federal government for the first time in its history had to borrow money in 2010 to cover Social Security benefits to retired and disabled workers a trend that worsened in 2011 and will not change at any point in the future unless changes are made."
"...tax revenues no longer cover the cost of Social Security benefits. As a result, Social Security is adding to the debt."
http://www.factcheck.org/2012/11/durbin-again-denies-social-securitys-red-ink/
As you see it keeps adding to the debt.
"As I learned in 1983, putting off a challenge until the last minute makes the task much harder to achieve. However, if we make modest changes in the near future to ensure 75 years of solvency in Social Security, we can phase in adjustments in a responsible way that protects current beneficiaries and ensures the program will remain a key part of the safety net for future generations.
The best way to approach this is to create a commission, similar to the Simpson-Bowles deficit panel, charged with preparing a long-term strategy on Social Security. Then bring it to the Congress next year for a debate and a vote."
http://www.usatoday.com/story/opinion/2012/11/27/social-security-dick-durbin/1730633/