- Florida Governor Ron DeSantis has stated that he is open to the idea of reducing Social Security benefits for younger Americans, but he has also stated that any modifications he makes to the program won’t affect any present or future beneficiaries.
- Both Democrats and Republicans have argued that the program’s popularity, particularly as an economic lifeline for America’s elderly, has made it a divisive political issue.
- The debt ceiling battle has been a contentious one. To regulate military expenditure, the debt ceiling was established in 1917. Since the 1990s, Democrats and Republicans have used the threat of a debt default to influence budgetary decisions.
- President Joe Biden and Speaker Kevin McCarthy came to a tentative agreement in 2023 to increase the amount of debt the US can borrow in order to prevent a default that would have devastating effects on the country’s ability to recover from the pandemic, result in the layoff of 2.6 million people, destroy the average American’s retirement savings by $20,000, and increase payments on everything from student loans to mortgages.
- By repeatedly pushing the US on the verge of default, the debt ceiling has evolved into a weapon for both political parties to demand concessions from each other. Insider contacted the DeSantis campaign for comment about how the candidate might alter Social Security, but they did not answer right away.
- Due to the program’s popularity, it has become a contentious political issue, with prospective changes to Social Security and Medicare coming under scrutiny amid the partisan debate over how to increase the debt ceiling.
- DeSantis’ most recent remarks come as Congress prepares to develop a budget for the following fiscal year. Recent legislation on Republican funding plans for federal agencies was presented by the House Appropriations Committee. This legislation includes a $183 million decrease to the Social Security Administration.
- Americans with disabilities and senior citizens may have to wait far longer to obtain benefits under the program, the American Federation of Government Employees said.
Source:
Insider
