Op-Ed: Congress Has To Grab The Political Third Rail Everyone Prefers To Ignore

This piece was originally published by The Daily Caller on March 5, 2023.

If there was one memorable moment from President Biden’s 2023 State of the Union Address, it was his remarks on entitlements. Biden blasted congressional Republicans, saying, “Some Republicans want Social Security and Medicare to sunset.” Republicans in the chamber quickly tried to shout down the President, rejecting the accusation. While entitlement spending cuts are unpopular, and are frequently referred to as the “third rail of American politics,” the state of both programs suggests it is past time for policymakers to take a firm grip of that rail and figure it out.

A recent report from the Congressional Budget Office (CBO) projects the Social Security trust fund will become insolvent by the year 2032. If that happens without substantive change by Congress, benefits will decrease by at least 20 percent to keep the program going. While congressional leaders want to pretend they don’t want to cut Social Security benefits, automatic cuts will be implemented if the current trajectory isn’t altered. In the words of the legendary Canadian rock band, Rush, “If you choose not to decide, you still have made a choice.”

The outlook on Medicare isn’t any rosier. According to a report released by the Medicare Trustees, the plan’s Hospital Insurance trust fund will be insolvent by the year 2028. At that point, hospital payments will automatically be reduced by roughly ten percent to maintain solvency. Again, congressional inaction might boost poll numbers in the short term, but it is clear something must be done to avoid greater catastrophe with one or both programs.

The full piece can be found online here.