Some Democratic Senators asked Social Security's Chief Actuary what the effect would be upon the Social Security Trust Funds if the President's proposal to end the F.I.C.A. tax that supports the Trust Funds is ended, without any replacement. Trump didn't say that this would be without a replacement but he didn't specify a replacement. The response, of course, is that the Trust Funds would quickly run out of money and be unable to pay benefits. The Chief Actuary's response has now appeared in campaign ads.
Some Republican Senators took offense at this and sent the Chief Actuary a letter complaining about his letter. I'd say they should blame the President for making a bone-headed proposal that would inevitably sound foolish in a TV ad. Responding to Congressional inquiries is part of the Chief Actuary's job. He can't very well say "I'm not going to answer your question because the answer would make the President sound foolish and irresponsible and I don't think he meant to sound that way."
The Chief Actuary has now responded. Here's part of the final paragraph of the letter:
... While it is never desirable for the Office of the Chief Actuary to engage in matters with political implications, it appears that this is unavoidable to a degree, as long as we are asked to provide objective and factual answers to questions posed by members of Congress. Our answers have always been as direct and objective as possible, and we regret that even clear answers may be taken out of context or used for purposes other than intended. ...
3 comments:
Reading between the lines
Grassley and Brady: Mr. Goss, how dare you point out that the republican promise to do away with payroll taxes is actually a plan to cut Social Security benefits. We were counting on the public to not catch on until after the election!
Goss: I just accurately answer the questions Congress asks me. Sorry if that is inconvenient for you.
Why would the president do away with the source of funding for social security and medicare if he didn't want to eliminate them? The general fund is being depleted also.
President Trump said that, if he is re-elected, he will terminate the payroll tax. Albeit that requires Congress to pass legislation, it is a powerful statement that the President supports, literally, de-funding Social Security. His Executive Order delaying payment of the payroll taxes can be effective up to 12 months, by which time the Disability Trust Fund would be depleted. Voters need to know what the payroll tax is -- the primary source of funding for social security benefits -- and what the consequences would be if Trump supported terminating the payroll tax. That's not political -- that is truth. Without the payroll tax, then social security is just another budget item to be haggled over by Congress & subject to being decreased or varied, year by year, as well as subject to government shutdowns stopping payment of social security checks.
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