K-12 Tax & Spending Climate: Can Someone Please Make the Candidates Talk About Social Security?

Bob Kerrey:

Few if any candidates for federal office will tell you that as a consequence of current federal law, young Americans are being screwed in two life-changing ways.

First, under current law, every Social Security beneficiary under the age of 48 will have their promised benefits cut by a third. And second, every young person who works is contributing between $10,000 and $20,000 to the health care and retirement of those lucky Americans who are already drawing benefits under federal law.

In some ways the second screwing is worse than the first. Young workers do not have the defined benefit retirement programs commonly enjoyed by their grandparents, and if they do have health care through their jobs, their annual deductibles are probably greater than what their grandparents paid to have children and attend college.

Perhaps the media will notice that Hillary Clinton and Donald Trump have something very important in common: Both are on Social Security, or at least they are eligible for the old age benefit guaranteed by Social Security.