The unwillingness of either party to do anything about it is setting us up for a crisis: my column in the Washington Post.
House Speaker Kevin McCarthy (R-Calif.) says that Congress should restrain spending as it raises the debt limit this year, but he has ruled out making changes to Social Security or Medicare. . . .
Medicare spending does inspire Congress to act every once in a while. Last year, the Inflation Reduction Act cut subsidies for prescription drugs. Social Security, on the other hand, has not been reformed for 40 years. In 2000, the program’s trustees estimated it would be unable to cover all of its promised benefits in 2037. After years of inaction, they now estimate it will be in 2035. . . .
Read the rest here, including what’s wrong with the Democrats’ seemingly easy solution.