The nonpartisan CRFB (Committee for a Responsible Federal Budget) projects that our Social Security and Medicare trust funds are a little more than seven years away from insolvency. When the trust funds deplete their reserves, payments are limited by law to incoming revenues. CRFB estimates that we will see a 24-percent benefit cut in late 2032 due to the OBBBA you voted for.
This gap between Social Security costs and revenue are projected to continue, leading to larger cuts.
It is time to tell the truth about the fiscal impacts of the One Big Beautiful Bill Act. Huge tax cuts to corporations and the ultra wealthy will bankrupt this country, taking away the benefits we were guaranteed and that you promised not to cut. In addition, you are depriving children of food and health care through the cuts to SNAP and Medicare. You are depriving our young people of a solvent country and an affordable education, all due to impacts of OBBBA.
If you can’t lead the country honestly, with sound economic policies, then you need to abdicate your leadership roles. We demand the truth and we demand sound fiscal policies for our country.
Kathleen Painter
Bonners Ferry
In 1968, Lyndon Johnson signed legislation that would allow social security to be used under a”unified budget”. Since then Congress has”borrowed” 2.9 trillion dollars from the social security surplus. I believe it was around 1999 that Paul Ryan floated the idea of a lock box for social security. It never went anywhere. And for several years during presidential debates, we got to hear about these lock boxes that never went anywhere. John Kasich was big on promoted it. Social security is actually solvent, but only if the IOU’s that Congress created are paid back. That goes for Medicare too.