FreedomWorks Applauds GOP Study Committee’s Proposal

Reacting to the Republican Study Committee’s updates to Social Security, Adam Brandon, FreedomWorks president, commented:

“I applaud Rep. Kevin Hern and the Republican Study Committee for taking the long-term health of our economy and budget seriously. Yesterday’s long-term projections from the CBO reminded us how quickly we are approaching a real fiscal crisis if we do nothing. Social Security will be insolvent within ten years. There will be automatic cuts to benefits if we do nothing. That’s reality. We must ensure that current beneficiaries are protected while modernizing Social Security for future beneficiaries.”

“The changes outlined in their FY 2025 budget proposal are a good start. When Social Security was created, the average life expectancy was 61 years. The retirement age was 65. Today, the average life expectancy is more than 77 years.  And we should reduce benefits for America’s top earners who are not near retirement. That’s great, but we need to be real with younger Americans about the looming insolvency of Social Security. We must also ensure that current beneficiaries are protected. We need to start talking about personal accounts for Millennials, Generation, Z, and Generation Alpha. Polling says they are open to that kind of modernization. Let’s take them at their word and start the process now.”

###

FreedomWorks exists to mobilize the principled center and politically homeless in America who do not feel their values of fiscal responsibility, social tolerance, and individual liberty are being represented in political discourse today. We seek to restore common sense and competence to public policy and American political life.