Listen Up: Podcast Explores Social Security Reform

Time is running out. Experts predict the Social Security trust fund could reach a deficit in about 10 years. At that point, benefits would have to be slashed — by about 20 percent most likely. This obviously has retirees and those nearing retirement age concerned. It’s also worrying some members of Congress, who are floating plans on how to shore up Social Security.

A recent episode of Risk Talking, a podcast about economics, interviewed Andrew Biggs. He is a senior fellow at the American Enterprise Institute, where he studies Social Security reform, state and local government pensions, and public sector pay and benefits. Biggs is also a former principal deputy commissioner of the Social Security Administration, where he oversaw the agency’s policy research efforts, and he was an associate director at the White House Economic Council, where he worked on Social Security reform. His observations are quite insightful, as he explores some of the different legislative proposals in this podcast. It’s worth a listen.

The Seniors Trust is working diligently to protect Social Security. We feel the best way to do this is through passage of the Social Security Expansion Act. This landmark bill will buttress the long-term solvency of Social Security by expanding benefits for seniors — not cutting them.