A recent article in the Washington Post indicated that Republicans in Congress have requested hearings on the Social Security Disability Insurance (SSDI) program in an effort to characterize the program as “wasteful” and “fraudulent” just in time for the 2014 mid-term congressional elections.
The article insisted that instead of playing defense as is expected of the Democrats, the entitlement proponents should go on the offensive and insist on expanding the program rather than cutting the program.
One way to do this is to support a bill Sen. Tom Harkin (D-IA) introduced in March of 2013, which would strengthen Social Security benefits and ensure solvency for years to come. The bill would achieve three major goals including reforming the Social Security benefit formula, making sure future cost of living adjustments (COLA) are based on the Consumer Price Index for the Elderly and the phasing out of the current taxable cap of $113,700, so payroll taxes apply more fairly to every dollar of wages earned.
As for the recent headlines about the SSDI trust fund being insolvent by 2016, these stories can’t really be considered “news” as 2016 has long been a deadline for a needed fix of the SSDI program. A similar crisis arose in the 1990s before a reallocation proposal was created so that the SSDI program was solvent for multiple more decades, which is again likely to occur.
So, it will be very interesting over the next few months as we get closer to the mid-term elections in November as to what the Democrats will do. Will they play defense in defending Social Security’s programs, or actually be proactive in trying to enact proposals that may expand and strengthen current programs, which could ensure a better way of life for the millions on Americans who rely on Social Security to survive.
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