Cassidy Joins Erin Talks Money Podcast to Discuss Future of Social Security, Answer Americans’ Questions

WASHINGTON - U.S. Senator Bill Cassidy, M.D. (R-LA) joined Erin Moriarity of Erin Talks Money to answer Americans' questions about the future of Social Security, what happens if Congress fails to act, and what can be done to strengthen the program for current and future retirees. Cassidy discussed his proposal for a separate investment fund and the bipartisan PROMISE Act, which would set up a process for Congress to consider and act on solutions.

"If you could speak directly to someone who is already retired, someone who is 10 years from retirement, someone who is in their 30s, what would you want each of them to understand about the future of Social Security?" asked Moriarity.

"I'd want them to understand that we need to act. The idea that if we do nothing means that nothing bad happens is false. If we do nothing and follow the law, there'll be as much as 28.5% benefits cut on those currently receiving Social, or if we just do the traditional route of raising taxes and cutting benefits to cover 100% of the problem, it's going to affect the person who's 10 years out and the person who's in their 30s," said Dr. Cassidy.

Background

Cassidy has been outspoken in the media on the need to rescue Social Security from insolvency. He has outlined his plan to create a sovereign wealth fund independent of the Social Security Trust Fund. He has written extensively on his proposal in the Washington Post, the Wall Street Journal, State Affairs, and the Washington Examiner. On the U.S. Senate floor, Cassidy has repeatedly called on Congress to act to save the program, and challenged the U.S. Senate to stop being good politicians and start being good senators. Most recently, Cassidy and U.S. Senator Dick Durbin (D-IL) published an op-ed in the Washington Examiner calling on their colleagues to join their bipartisan effort to address Social Security's looming insolvency.

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