It’ll all work out
In Mary Pat Campbell’s latest podcast - “Social Security and Election 2024,” she talks about the Social Security Trust Fund and its impact, or lack there of, on the major party platforms in 2024. The Social Security Trust Fund is projected to run out by 2035. In her podcast, Campbell examines how the Democratic and Republican platforms are addressing—or parrying— reforms. Neither party articulates cutting benefits or increasing the retirement age, which could be effective measures to ensure the program's solvency.
Campbell also spoke to the historical context of Social Security reform, pointing to the significant changes made in 1983. The 1983 bipartisan effort extended the life of the Social Security Trust Fund by raising the retirement age and increasing payroll taxes - an interesting concept.
Although 2035 may seem far away, thinking back ten years, I’m reminded of a Game of Thrones episode. In the episode, Oberyn fought the Mountain. Oberyn, the smaller, but more agile man, was winning the fight against the Goliath-like character. Oberyn had the Mountain on his back, beaten, all but assuredly dead, but Oberyn got arrogant. While the Mountain lay beaten and supine, Oberyn walked around the Mountain, yelling and demanding admittance of what he did to Oberyn’s sister. Fatefully, when Oberyn got close, the Mountain chopped Oberyn’s legs and swept him to the ground. Fully mounted over Oberyn, the Mountain admitted what he did, then graphically ended Oberyn’s life. There’s probably a lesson to be learned there about getting what you asked for.
I’m a fan of Mary’s work. Below is a link to her Substack — STUMP — and her episode on Social Security.
