Mike Johnson touches the third rail
You may have seen that Speaker Mike Johnson wants Social Security to be “fixed” after the midterms. The fact that he wants to wait until after the midterms tells you everything you need to know. He’s using “fixed” in the sense of what you do to your dog if you don’t want puppies. Republicans know this is radioactive and don’t want to run for re-election on it. And Johnson wants a stick to beat Democrats with when he’s loses the speaker’s gavel in January. Johnson argues that SS must be cut because it’s such a large share of the federal budget and topping it off to prevent benefits cuts in the early 2030s is too expensive. Setting aside the fact that SS is separately funded and so has zero effect on the deficit, how large is SS relative to the defense spending? Paul Krugman brings the receipts: “. . . while the cost of maintaining Social Security benefits at their promised level isn’t trivial, it is in fact affordable. According to the Trustees’ report, the actuarial ...