By Rep. Beth Van Duyne
The only person less thrilled than President Joe Biden about his frequent comparisons to former President Jimmy Carter is Carter himself. To America, the comparison is clear: Biden is dragging the United States from crisis to crisis, causing rising prices on everything from gas to lettuce and crippling inflation, laying the ground for a national security collapse, and jeopardizing our global standing on financial and economic fronts.
Following a traditional Democratic playbook, Biden is attempting to spend his way out of his failures and weak decisions. The proposed $4.3 trillion reconciliation bill, in hand with the $1.2 infrastructure package, amounts to an outrageous $5.5 trillion reckless spending bundle that would fundamentally change the federal government’s role in the U.S.
This spending sets a dangerous precedent and dooms our children and grandchildren as they, due to no fault of their own, live in a reality of unsustainable government-funded infrastructure until it destroys our nation’s economy. But the often ignored yet critical area of concern as we fight to protect future generations from Biden’s overspending are the most immediate victims of Biden’s policies: seniors.
As the Left continues to spend blindly, it’s on the backs of our seniors. Every warning sign of the collapse of the Social Security program has been neglected, even as we witness the clearest sign yet: Last month’s U.S. Treasury’s 2020 annual Social Security and Medicare report confirmed Social Security is running out of money faster than previously thought. Projections are clear that under the current financing and benefit structure, Social Security will only be able to meet its full legal obligations until 2033. Social Security is on a path to insolvency, and how are Democrats in Congress responding? With demands for more out-of-control spending to satisfy their unquenchable desire to make citizens depend on the government.
It took a year after the passage of President Ronald Reagan’s Economic Recovery Tax Act for Social Security’s total revenues to exceed the cost. Now, for the first time since, costs are projected to exceed total income in 2021, slowly depleting the surplus that will soon run out, leading to cuts in benefits for seniors. Today’s Democrats prioritize climate corps militia to police the Green New Deal while an entire generation will never receive the benefits they earned.
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Biden’s inflation-causing policies are making it increasingly harder for people to afford everyday necessities. While it was good news to see a cost-of-living increase for seniors, make no mistake: That increase will still leave seniors unable to afford the compounding inflation tax caused by this administration. Today, senior citizens stretch their monthly Social Security payments, but the next generation might not know Social Security at all.
Congress must have a pragmatic approach to governing based on reality that sets future generations up for success. If measures are not developed to set Social Security back on a path to solvency, the next crisis of Biden’s presidency will put millions of seniors in poverty. We must redirect congressional Democrats’ and this administration’s paths toward economic destruction.