Republican lawmakers said Capitol Hill politicians were “not honest” when they said they wouldn't touch on social security.
Why is it important?
It is sometimes called “the third railway” (public policy that is uncontrollable due to its overwhelming popularity). Social security is dependent on tens of millions of Americans. An estimated 53 million retirees (16% of the population) collected monthly payments at the end of 2024.
President Donald Trump has said many times that he has no plans to cut social security benefits. However, the programme is facing an upcoming bankruptcy crisis that could see profits that will be automatically reduced over the next few years.
What do you know
Utah Sen. John Curtis said politicians were “not honest” about the future of social security in an interview with NBC. Meet the press March 23rd.
“When we look in the eyes and say we don't touch it, we're not honest. If we don't touch it, it touches itself,” Curtis told moderator Kristen Welker. “Do you know that? It's not honest with the American people, and I think it's one of those things that they don't trust us.
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Write to xCurtis revealed he is talking about the looming issue of social security solvency. The program faces depletion of old age, survivors and disability insurance (OASDI) program trust funds, which will help strengthen profits along with regular taxation on employees.
According to a 2024 report from the Social Security Agency (SSA) inspector's office, if no solution is found in the coming years, profits could be reduced by 17% in 2035.
“Young Americans deserve an honest conversation,” Curtis wrote. “As the program is heading for bankruptcy, many don't believe they'll receive anything. The more social security they save for their children and grandchildren, the less dramatic the change is.”
Trump and Social Security
The president has said many times that he will not cut social security benefits. In March 2024, he told Breitbart:
Trump also said in January that his administration would “love and cherish” Social Security, Medicare and Medicaid.
“We're not going to do anything with it unless we find abuse or waste,” he said. “People are not affected. It's just more effective and better.”
What people are saying
Curtis said in an interview with NBC.: “We're all retired people, people close to retirement, we won't touch it, you're safe. But let's have that conversation, because my kids don't think they'll get it.
Steven Cates, principal financial analyst at retirementguide.com, previously said, Newsweek“On average, Americans rely on Social Security benefits, nearly 40% of their retirement benefits. If nothing is done to address the shortage, a 20% reduction in benefits will have a major impact on the ability of many retirees to maintain the lifestyle.”
What's next?
In an interview, Curtis said he will “introduce social security changes” over the next few months. Newsweek I contacted Curtis' office via email for comments.
