Social Security in Crisis: Should We Care?

Written by Rev. Thorin Anderson

It is an established fact that the Social Security Trust Fund will be depleted sometime in 2032.  What this means is that going forward from that point recipients will receive only what is available from the current withholdings from America’s workers.  Social Security administrators are estimating that there will be an approximate 25% reduction in the payouts to America’s retirees.

To most Americans this may appear to be of little consequence, but the ramifications are far more serious than one might think.  And besides this, the government (meaning us) has a contractual agreement with our seniors to provide this income.  It is, after all, their money!  To renege on this responsibility would be a significant failure.

You might be one who believes that Social Security is not the best system for helping retirees in the first place, and you may be right.  However, it is the system that millions of Americans now depend upon to meet their financial obligations and even put food on their table.  It provides for much of their healthcare needs as well; therefore, it must be preserved for the millions who depend on it.

Why must we stabilize Social Security?  Consider these things: Look around the next time you eat dinner out and notice the grey heads across the restaurant.   You will likely see that most of the patrons are seniors.  These folk can spend in this way because they have some disposable income.  They are a key component in keeping such places open and providing income for the establishment’s employees.

The next time you fly take note of the fact that many if not most of those flying are seniors.  Again, many of them can do this because they are receiving Social Security each month.  It is the large number of people flying that helps keep the cost of flying in a range that is affordable for us all.

Most of these Seniors are no longer providing for children at home, they usually have no mortgage and thus have a reduced cost of living, allowing them to spend a larger percentage of their wealth in other ways.

Reduce the Social Security dollars available to seniors by 25% and you can guess the results.  They will be forced to cut back their spending significantly! It will heavily impact restaurants and flying, for just two examples, seriously harming the economy as a whole.

Or consider the young person just getting started in marriage and family.  Most young people at that age may prefer to invest their dollars in their own retirement account, and see little reason for buying life insurance and wish they could opt out of Social Security.  However, tragedies do occur; If the breadwinner of a young family is injured or killed, it is Social Security that provides the safety net for that family.

The point is that politicians have been wringing their hands over this issue for decades yet have done nothing. President Trump, on the other hand, has pledged to fix the problem, and time is running out to do so.  Judging by the fact that he said that he would close the border, and he did, and that he said that he would deport violent illegal immigrants, and he has, and that he would lower energy costs, and the price of gas has dropped significantly, it seems a good bet that he will also do something real to protect Social Security.

However, we know that if he does not have a majority in the House of Representatives the Democrats have vowed to tie his hands with impeachment and other such things.  They clearly have no intention of doing the serious work necessary to protect America’s seniors who desperately need a stable Social Security system.

Whether you like President Trump’s style or not, for these reasons it is imperative that we who care for each other do what we can to ensure that Republicans keep both the House and Senate in the up-coming midterm election.

One person who is working hard to accomplish this is “Joe from Texas,” a businessman who is holding rallies nationwide to inform Americans regarding the need to keep the House in Republican hands.

You can find out more at his website: JoeFromTexas.com.