The long term solvency of Social Security is a much-debated issue. The non-partisan Congressional Budget Office estimates that if the program continues unchanged, the trust fund will be depleted by 2052.
I regard the protection of Social Security as a top priority, and I am concerned about its long term solvency. The past few years have seen numerous proposals for Social Security and Medicare reform ranging from an increase in payroll taxes to overhaul and partial privatization of the system. I do not believe that a radical overhaul of the Social Security system is the way to ensure payments for current and future retirees.
I recently held Social Security town-hall meetings that drew crowds of hundreds and generated spirited discussions in the four communities I visited. I very much appreciate hearing your thoughts and concerns on this issue and hope to hear more from you as we continue to discuss the best way to strengthen Social Security.