Social Security Needs a Rebound | Eastern North Carolina Now

Mattie Duppler explains in a Washington Examiner column why the future of Social Security depends on an economic rebound.

ENCNow
Publisher's note: The author of this post is Mitch Kokai for the John Locke Foundation.

    Mattie Duppler explains in a Washington Examiner column why the future of Social Security depends on an economic rebound.

  • Like many aspects of today's fiscal environment, trends that were worrisome before the pandemic have been accelerated by the unprecedented nature of today's crisis. This is true of Social Security, the looming funding imbalance of which has the potential to be exacerbated by an increased number of claimants and a decrease in revenues due to depressed economic activity.
  • The uncertain economic environment makes the debate over how to save Social Security that much more important. Trade-offs must be made, but the acute contraction of the employment landscape dictates that so-called solutions that harm employment will serve to undermine the nation's economic recovery as well as the lasting health of Social Security.
  • With millions of people out of work and the infection rate remaining unsteady, it is obvious that the pandemic still requires a deliberate, targeted, and hopefully temporary response from lawmakers. Legislation that addresses Social Security's funding shortfalls with permanent and damaging tax increases, or uses the crisis as a pretext to expand benefits through a program that already faces durable fiscal imbalances, would undermine the nascent recovery.
  • The ways in which the health of the workforce and the health of Social Security are inextricably linked are manifold.
  • First, downturns tend to increase dependence on social programs at a time when revenues fall, presenting dual pressures on solvency. In the case of Social Security, which relies on employment taxes, the scenario can be more worrisome: Data shows there are still 32 million people claiming some form of unemployment support, which represents tens of millions of workers not currently paying Social Security taxes.
  • Removing barriers for getting workers back to work then is key, both for the financial health of Social Security and for workers.

Go Back


Leave a Guest Comment

Your Name or Alias
Your Email Address ( your email address will not be published)
Enter Your Comment ( no code or urls allowed, text only please )




A New War on Merit John Locke Foundation Guest Editorial, Editorials, Op-Ed & Politics Cooper’s Unemployment Office Tries to Make Its Own Law


HbAD0

Latest Op-Ed & Politics

Noem said that her message to illegal aliens was: "We do not want you here and you should leave."
The new Defense Secretary has wasted no time in rooting out DEI in the U.S. military as he promised.
A University of North Carolina tennis star is seeking an injunction in her federal lawsuit against the NCAA over access to prize money.
“Today’s jobs report reveals the Biden economy was far worse than anyone thought..."
Karen Brinson Bell, executive director of the NC State Board of Elections, recently was elected incoming president of the National Association of State Election Directors (NASED), putting her in line to serve as association president in 2026.
Munich attack ingured 28 including todlet fighting for his life

HbAD1

DALLAS, TX — As proof he was willing to back up his strong words in support of DEI practices in business, Dallas Mavericks minority owner Mark Cuban announced the team had signed actor Peter Dinklage as its new power forward.
Michele Morrow has called for the dismantling of the US Department of Education, urging the Department of Government Efficiency (DOGE) under Elon Musk’s leadership to take swift action.
The U.S. Digital Service hired from the porn industry and a gender studies department, building a legion of queer activists. Now it's DOGE.
Beaufort County Commissioner Hood Richardson has long objected to the manner in which the Center-Left Coalition, and their associative bureaucrats conduct business, and, in that vein of purpose, the Commissioner is requesting an opinion regarding the familial status of married members governing.
this is on top of money diverted from FEMA, VA and other sources

HbAD2

"Is it Saturday Night Live or real life? Does anyone really think this is the future of the country?"
'I think you know, no matter who the president is, I know I'm excited because it's the biggest game of my life ...'
Reform Party says climate policies leading to de-industrialization of Britain
Pope Francis issued an official statement today demanding that God remove the walls and gates that surround the Kingdom of Heaven.
"First prize in producing election coverage that reads more like Democratic National Committee press releases"

HbAD3

 
Back to Top