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The nation’s outsized deficit is high on the list of domestic problems most in need of a solution.
From the president’s deficit commission, meeting throughout the year to figure out what to do, to the America Speaks group holding multiple town hall meetings, experts are zeroing in on the skyrocketing deficit number.
And we keep hearing that cutting Social Security benefits needs to be part of the solution.
Hold on a second. The budget deficit needs to be tackled, and Social Security needs to be strengthened for the long run.
But just about everything else in this line of thinking is flawed.
Social Security is not in crisis.
Moderate adjustments can ensure Social Security is strong for our children and grandchildren. And it has not added a dime to the deficit.
With these assumptions dismissed, it’s pretty tough to argue that closing the budget gap by targeting Social Security benefits would be fair or warranted.
Financed by money that hard-working people contribute over their working lives, Social Security is the one reliable, source of income for older Americans and others.
It provides a foundation of retirement income security for them to build upon and it offers economic security for disabled workers and the spouses and children of deceased workers.
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