In the recent Presidential debate, moderator Dana Bash asked the candidates about Social Security. In her question, Bash cited the Committee for a Responsible Federal Budget when she noted, falsely, that “Social Security is projected to run out of money within 20 years.”
Why does the media repeat phony claims that Social Security won’t be there? They rely on Wall Street-funded think tanks like the Third Way and the CRFB. This misinformation leads to a lack of confidence in the entire program.
Social Security is not going broke. It has a $2.8 trillion surplus, can pay out 100% of benefits owed for the next 19 years and approximately 80% of benefits owed after that.
And all we need to do is ask the wealthiest Americans to pay into Social Security at the same rate as everyone else and we can not only extend the lifespan of the Social Security trust fund, we can afford to expand benefits for millions of Americans.
The choice is simple, go back to this:
Or stick with this:
Source: Social Security Works
You can read the entire fascinating history of Social Security, from pre-history to the present here.