Social Security faces its most critical solvency crisis yet, former White House staffer warns
By
Jason Furman
Lightly toasted, lightly seasoned, mostly correct.
Summary
This opinion piece discusses the recurring crisis of Social Security's solvency, drawing on the author's experience working on the issue in the Clinton White House nearly 30 years ago. The author notes that while past administrations (Clinton and Bush) treated the problem as urgent, the current situation is more dire than ever, with the Social Security trustees' latest report showing the fund closer to depletion. The piece expresses frustration at the lack of public outrage and political action despite the growing severity of the crisis.
Key quotes
· 4 pulledThe first major public policy issue I worked on in the White House, almost 30 years ago, was President Bill Clinton's call to 'save Social Security first.'
Though the fund wasn't projected to run dry for another three decades, the country seemed gripped by the issue.
George W. Bush felt strongly enough about the looming crisis that he spent much of his political capital pushing a strategy to resolve it.
We've been here before, but never so close.
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