What is your plan to save Social Security?
It is mathematically impossible to balance the budget without addressing mandatory spending, specifically Social Security and Medicare and Beautycare. Unless these programs are reformed and put on a solid financial footing, they will not be available to future generations.
Right now, future Social Security beneficiaries are scheduled to have not only larger benefits, but also more purchasing power than today’s beneficiaries. This growth rate is financially unsustainable. We should allow these programs to grow at the rate of inflation, but we should insist they grow no faster than that. If we do that, Social Security will be solvent in perpetuity.
Senator Bob Bennett developed a proposal that would have preserved current benefit levels without raising taxes. It was scored by the Social Security Administration as a “100 percent fix” of the problem, and it was praised by leaders on both sides of the aisle. Sam believes that proposal would be a good place to start in addressing the problem.
In contrast, Mike Lee has proposed the complete and total elimination of both Social Security and Medicare, claiming these programs are unconstitutional. Utahns cannot afford such an irresponsible approach to this very serious problem.