Source: Foreign Policy
by Julian E Zelizer
“Social Security faces a major fiscal challenge. The program, which has provided retirement, survivor, and disability benefits to millions of Americans since its creation in 1935, is projected to soon cost more than its total income. The budgetary shortfall is already prompting the government to draw down reserves, which will reach unsustainable levels by the early 2030s. … In the early 1980s, Congress faced a similar crisis and acted. Although the solution that a bipartisan coalition put into place in 1983 has itself contributed to the challenges policymakers face today, the political approach they took remains instructive. Indeed, it is the only viable path forward.” (10/19/26)