By Ben Ritz, Director of PPI’s Center for Funding America’s Future
The future of Social Security and Medicare has unexpectedly become a central point of contention in the final week before the 2022 midterm elections. As the two biggest non-emergency spending programs in the federal budget and the foundation of retirement security for nearly all American workers, it makes perfect sense to have a conversation about Social Security and Medicare during election season – particularly since both programs face serious financial challenges as our population ages. Unfortunately, the debate currently playing out on the campaign trail is devoid of the serious substance voters deserve, and it’s abundantly clear that neither party has a good plan to secure these programs for current and future beneficiaries.
Sen. Rick Scott (R-Fla.), who leads the GOP’s Senate campaign arm, kicked off the discourse when he released a proposal that would allow all federal programs – including Social Security and Medicare – to expire if not reauthorized every five years. Sen. Ron Johnson (R-Wis.), a far-right senator who is up for re-election next week, then suggested requiring the programs be reauthorized annually. Such a radical change that would enable these essential programs to suddenly vanish every few years would be catastrophic for American workers, who must plan their retirements around them years or even decades in advance.
