OPINION: I emailed Congressional leader Kevin McCarthy’s staff an inquiry about his plan for Social Security. I got back an email that, frankly, insulted the intelligence of MarketWatch readers, BrettArends writes.
I am trying to disprove the claim that the Republican leadership plan to slash Social Security if they win the midterm elections.Plenty of opinion polls say the GOP are on track to win control of the House of Representatives in the elections in less than two weeks. They may also win control of the Senate.
“You can’t just continue down the path to keep spending and adding to the debt,” he said. If the Democrats want to raise the debt ceiling again, he continued, “there comes a point in time where, OK, we’ll provide you more money, but you got to change your current behavior.
If the accusations were wrong, it would be relatively easy for McCarthy shut them down, right? All he had to say is “we will not cut Social Security or Medicare,” or something similar, definite and absolute.I emailed McCarthy’s staff and got back an email that, frankly, insulted the intelligence of MarketWatch readers.
No, that is not “clear.” That could mean anything. Many of the people who want to cut, or even gut, Social Security and Medicare say they need to do it in order to “save it” and “secure it.” So this comment means nothing. Note what he didn’t say, that he would not cut Social Security. He said only that he never mentioned it in the interview.Here’s what we know. Social Security has a $20 trillion hole in its accounts. The trust fund is due to be depleted by 2035. The Medicare trust fund will run out of money even sooner: In 2028.
The Republican Study Group, a group representing 157 GOP lawmakers on Capitol Hill, has already published a program that includes raising the retirement age for Social Security, cutting benefits for “higher earners,” and starting the process of partially privatizing the program for younger workers—a process that would undermine the program. The justification, as usual, is that the program is doomed without cuts.
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