Over at e21, Social Security Trustee and Mercatus Center fellow Chuck Blahous writes about the need for – as the Social Security Trustees often put it – prompt action on Social Security reform:
…financing corrections postponed from today until the early 2030s would need to take effect virtually immediately and be several times as painful, rendering enactment highly implausible. It would be far likelier then that legislators would resort to subsidizing Social Security from the government’s general fund. This would end longstanding arrangements through which Social Security has enjoyed unique popular support because it is perceived as a separate, self-financing program of benefits workers have earned with their payroll taxes.
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