Senator Romney Takes Issue with Yellen on Social Security: Discussing the Need for Honesty and Bipartisan Solutions
On Wednesday, Senator Mitt Romney (R-UT) took issue with Treasury Secretary Janet Yellen’s statement that President Biden “stands ready” to work with Congress on Social Security. At the Senate Budget Committee hearing, Romney emphasized that there are no Republican or Democrat lawmakers proposing to cut Social Security benefits.[0] He went on to press Yellen and other witnesses about the president's lack of plans to shore up Social Security in his $6.9 trillion budget proposal.
The Congressional Budget Office (CBO) released a report last month that projects Social Security’s funds will run a shortfall in 2032, sooner than previously expected.[1] This prompted President Biden to “stop” any attempts to cut Social Security in his State of the Union address.[2] However, Republicans have responded by claiming nobody has proposed any cuts to the program.[2]
The Republican Study Committee, the biggest conservative caucus in the lower chamber, has proposed tightening the eligibility age for Social Security and Medicare, which would result in a deeper cut of benefits for those claiming them early.[1] Dr. Cassidy highlighted the President’s lack of attention to Social Security in his budget proposal, asking Yellen “why doesn’t the president care” about threats to the program’s funding.[3] Yellen affirmed that Biden “cares very deeply” about Social Security and “stands ready to work with Congress.”
The discussion about cutting Social Security benefits is an important one to have, and it is essential that both parties work together to ensure the program’s longevity. It is also essential that both sides are honest and don't make false accusations.
0. “Republicans Keep Pretending That This Social Security Cut Is Not Actually A Cut” TPM, 17 Mar. 2023, https://talkingpointsmemo.com/news/social-security-republican-retirement
1. “Romney grills Biden official about Social Security in tense exchange” msnNOW, 15 Mar. 2023, https://www.msn.com/en-us/news/politics/romney-grills-biden-official-about-social-security-in-tense-exchange/ar-AA18FQ2d
2. “Social Security: Romney Asks Why 25% Drop in Funds Isn’t in Biden’s Budget” Yahoo Life, 16 Mar. 2023, https://www.yahoo.com/lifestyle/social-security-romney-says-simply-112359204.html
3. “Republicans seek to flip the script on Social Security” YourCentralValley.com, 17 Mar. 2023, https://www.yourcentralvalley.com/hill-politics/republicans-seek-to-flip-the-script-on-social-security
