Here is the real problem with Social Security

Government, Politics, Social Security 2 comments

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AUTHOR: R Quinn on 8/20/2026

In 2002 the Social Security Trustees explicitly called on Congress in their report summary to act sooner rather than later fixing SS funding

They emphasized that taking early legislative action would allow changes to be phased in gradually and give workers time to adjust. They issued the same warning in every report since.

For twenty four years Congress and each administration has ignored those warnings.

Those trustees reports were signed by the Secretary of the Treasury, of Labor and Health and Human Services of each administration.

Despite the legal requirement, no public trustees have been appointed since 2010  This public oversight has simply been ignored because the law does not provide any penalties if it is ignored.

2 comments

  1. The Trustees have known about the funding shortfall for over 30 years – soon after the 1983 Amendments – where Congress lied to Americans that they had “solved” the shortfall. I can still see my former senator, Howard Metzenbaum waiving a piece of paper over his head claiming that they had saved Social Security for all time.

    I wrote this almost 10 years ago:

    Social Security Reform Over the Last 25 Years:

    • November 5th, 1993: President Bill Clinton, by Executive Order #12878, created the Bipartisan Commission on Entitlement Reform (the Danforth Commission) to evaluate entitlement programs – specifically Social Security and Medicare.  The Commission never reached consensus and couldn’t get all members to agree on even an Interim Report.  Subsets of the commission members made their own proposals.  None gained any traction, nor action. See:  http://www.presidency.ucsb.edu/ws/index.php?pid=61571  
    • February 5, 2005: President George W. Bush made a reform recommendation to add personal accounts and change the COLA.  These proposals triggered great criticism, and no action was taken. See:  https://georgewbush-whitehouse.archives.gov/infocus/social-security/    See also:  https://georgewbush-whitehouse.archives.gov/news/releases/2005/04/200504…
    • April 27, 2010: The bipartisan National Commission on Fiscal Responsibility and Reform (often called Simpson-Bowles) met to recommend fiscal reform, including recommendations to reform Social Security. Despite widespread popular support, the report failed to get enough support to send it to Congress for approval. 
    • June 1, 2016: President Barack Obama, nearing the end of this second term, reminded us that Social Security’s finances needed strengthening. “We should be strengthening Social Security… it’s time we finally made Social Security more generous and increased its benefits so that today’s retirees and future generations get the dignified retirement that they’ve earned.”  No proposal was ever made.  See:  https://obamawhitehouse.archives.gov/the-press-office/2016/06/01/remarks…  
    • Today’s GAO report echoes President Obama: “… (we) better ensure a secure and adequate retirement, with dignity, for all.”  But, it offers no plan of action other than another committee.  

    Why did you limit your focus to 2002? Could it be to point at George W. Bush and his first FY running a deficit (where FY 2001 was the last year of surplus)?

    Perhaps you forget that the Bush Administration suffered significant political loss by proposing reforms to both Social Security and Medicare.

    So long as we allow Congress to lie about Social Security, and to use the program and Medicare to buy votes, we will continue to get what we have gotten these past few decades.

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    1. BenefitJack is right about us getting nothing out of Congress. Unfortunately I see a fresh crop of radicals coming in that will make it even harder to get serious consideration of needed legislation.

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