Why Politicians Struggle to Directly Address Social Security/Care Spending

In the 1980s, if Social Security (SS) taxes had maxed out at $150,000, we might be in a better position today. However, the Republican Party (GOP) wants to eliminate it for political reasons, not to protect the elderly. Their indifference to senior poverty for political gain is a stark reality.

The Political Conundrum: Social Security and Its Associations

For decades, Social Security has been the Third Rail. This term originated from the electric currents that run through the third rail of public transportation, which is electrified and considered high voltage. Politicians dare not touch it for fear of political peril. The reference emphasizes the political risk of attempting to reform the program, as historically, any attempt to tamper with it results in political suicide.

Evolution of Social Security: An Initially Short-Term Solution

Originally, Social Security was a federally mandated individual retirement account where workers contributed to support families of men who typically died by age 65 during the early days. Congress, however, continually mismanaged the fund, raiding it for general revenues and adding unrelated benefits. They also implemented unrealistic cost-of-living (COLA) increases across the board.

The Current Crisis: An Aging Population and Solvency Issues

Currently, the program is facing a significant financial crisis due to the aging population. Many baby boomers are retiring, putting a strain on the system. The ratio of workers to beneficiaries has shifted dramatically. In the 1970s, it was about 22 workers for every one beneficiary; today, it's closer to 4 workers supporting one beneficiary, and the trend continues downward.

The Powerful Retirement Lobby and the Politics of Reform

The retirement lobby, like the NRA, is a well-funded powerhouse that can easily defeat those advocating for honest reform. Criticism of the program, no matter how constructive, is met with accusations of being a geriophobe (a hatred of the elderly); this tactic has proven to be effective in stifling meaningful debate and change.

Addressing the Issue: A Call for Comprehensible Solutions

To address this potent issue, a study group with impeccable credentials should be established and properly communicated to the electorate. With intelligent and compassionate solutions, Congress might finally be able to implement meaningful reforms. This would involve honest discussions, transparent policies, and comprehensive solutions that aim to balance the sustainability of Social Security with the needs of the elderly and working populations.