Recent discussions have highlighted a critical issue facing Social Security: its impending insolvency. Treasury Secretary Janet Yellen, in testimony before the Senate Finance Committee, admitted that President Joe Biden lacks a plan to address Social Security's future, with an automatic 24% benefit cut expected in 8 years. This revelation has sparked concern, as Social Security is projected to face insolvency by 2034 if no action is taken. Both President Biden and former President Donald Trump have been criticized for not presenting detailed plans to ensure the program's solvency. Amidst these discussions, some lawmakers are proposing solutions, such as the Medicare and Social Security Fair Share Act, aimed at saving Social Security by requiring the ultra-wealthy to contribute more.
Biden and Trump have cast themselves as protectors of Social Security, yet neither has offered a detailed plan for ensuring the program’s solvency. https://t.co/JcO7EgYePw
Social Security trust fund reserves will be depleted in less than 10 years, but President Biden and former President Donald Trump offer only vague promises to protect the program as they doggedly avoid the notorious “third rail” of American politics. https://t.co/p7X4D39OPY
Contrary to what Donald Trump and Joe Biden imply, it is impossible to "protect" Social Security and Medicare by doing nothing. Inaction will guarantee automatic benefit cuts in less than a decade. https://t.co/ovd7IbBvnk
#JanetYellen admits #SocialSecurity will run out of money in 2034, but Biden has no plan for fixing it. That is in 10 years. The longer we wait to fix it, the worse things will be. Yellen says he wants to work with Congress, but after 3 years he still hasn't talked to them yet. https://t.co/JhcOHroufb
Secretary Yellen admitted that President Biden has NO plan to protect Social Security. But I have a plan. My Save Our Seniors Act will require the Congressional Budget Office to report the true fiscal health of Social Security & ensure that our seniors receive their benefits.
REMINDER: Biden has no plan for Social Security. Just ask Janet Yellen. https://t.co/h26VuCG6p2
REMINDER: Biden has no plan for Social Security. Just ask his Janet Yellen. https://t.co/h26VuCG6p2
Mr. Biden and Mr. Trump have cast themselves as protectors of Social Security, yet neither have offered a detailed plan for ensuring the program’s solvency. https://t.co/sOF4yrd60F
When asked about President Biden's "plan" to stop Social Security from going insolvent, @SecYellen said, "The President doesn't have a plan." Doing nothing GUARANTEES a 24% benefit cut for all current & future beneficiaries. This is unacceptable.
In a shocking recording of her testimony before the Senate Finance Committee, Treasury Secretary Janet Yellen admitted that Joe Biden does not have a plan to protect Social Security. Biden is only interested in using Social Security as a messaging item. https://t.co/cv4Aw8osQI https://t.co/nFAe6fyde4
Today in the EMPIRE OF CHAOS: “The President doesn’t have [a Social Security Plan], he has principles...” — Janet Yellen 🤣🤡 https://t.co/naExaLpv4E
While House Republicans continue pushing cruel cuts to Social Security, I've got a better idea. The Social Security Administration has confirmed it — my Medicare and Social Security Fair Share Act would save Social Security by making the ultra-wealthy pay their fair share.
Biden, Trump keep it vague on looming Social Security insolvency crisis https://t.co/cD5oP0oau2 https://t.co/Yd7vNfkgh1
It's true! @SecYellen told me President Biden doesn't have a plan to save Social Security from an automatic 24% benefit cut in 8 years. https://t.co/WLxvpQ3hYv https://t.co/Qn7XPCN83V
Don't just take my word for it, Joe Biden's Secretary of the Treasury even admitted he doesn't have a plan for Social Security. Principles alone won't secure our seniors' future. It's time for action, not empty rhetoric. https://t.co/8sjaCbp0N2