Opinion | Problems and solutions: What to do about Social Security and Medicare for older Americans WashTimesOpEd
is $163 trillion — almost seven times the size of our entire economy. An unfunded liability is the difference between benefits already provided by law and the future tax revenue expected to pay those benefits.
Fortunately, there are reforms that would benefit today’s older adults, even as we prepare to save the system for tomorrow’s retirees. Here are a few problems that need to be solved and should have been solved long ago.Acting Social Security Commissioner Kilolo Kijakazi acknowledges that older Americans face extraordinary delays when they try to contact Social Security by phone. When they finally get through, the advice they get is often incorrect.
It is not surprising that Social Security personnel make so many mistakes. The system has 2,728 rules and hundreds of thousands of pages explaining the rules, governing just 13 basic benefits.Problem: Penalties for working
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