Social Security is Probably Pretty Safe For Now

For indispensable reporting on the coronavirus crisis and more, subscribe to Mother Jones' newsletters.


The White House has officially released its 2014 budget proposal, and it’s pretty much what everyone expected. In particular, it cuts the growth of Social Security benefits by adopting chained CPI and raises taxes on the wealthy by reducing the size of their tax deductions. So does this mean that Social Security is in danger? Ezra Klein comments:

As the White House sees it, there are two possible outcomes to this budget. One is that it actually leads to a grand bargain, either now or in a couple of months. Another is that it proves to the press and the public that Republican intransigence is what’s standing in the way of a grand bargain.

We’ll see. But I’ll put my marker on the table right now: the answer is behind Door #2. There will be no grand bargain, not now and not in a couple of months. In fact, as time passes, a grand bargain gets less and less likely. There was a brief period after the election when it seemed as if the adults in the Republican Party might exert a little control over the tea party wing and try to reach a deal with Obama. But that moment passed, the tax jihadists have reasserted their dominance, and there’s zero chance that they’ll agree to any kind of tax hikes. So: no grand bargain, and no cuts to Social Security.

Obviously I could be wrong. But anyone who thinks so had better be prepared to explain just how and why I’m wrong—and if you point feebly to Obama’s “outreach” dinners for those Republican senators, you might as well just concede the point now. They’ll eat dinner with Obama, but they aren’t going to vote for any tax increases, and even if they do, the House won’t follow their lead. So take your pick: either the modern GOP really is as intractable and deranged as we keep saying it is, or Social Security is in danger of being cut. It’s hard to have it both ways.

For what it’s worth, this is why I’m comfortable taking a fairly academic approach to the whole issue of chained CPI. I don’t doubt that Obama’s offer is sincere, but it doesn’t matter. Republicans aren’t going to take it. Obama will get his proof that Republicans simply aren’t willing to negotiate seriously, and who knows? Maybe it will do him some good. But that’s all he’ll get.

Thank you!

We didn't know what to expect when we told you we needed to raise $400,000 before our fiscal year closed on June 30, and we're thrilled to report that our incredible community of readers contributed some $415,000 to help us keep charging as hard as we can during this crazy year.

You just sent an incredible message: that quality journalism doesn't have to answer to advertisers, billionaires, or hedge funds; that newsrooms can eke out an existence thanks primarily to the generosity of its readers. That's so powerful. Especially during what's been called a "media extinction event" when those looking to make a profit from the news pull back, the Mother Jones community steps in.

The months and years ahead won't be easy. Far from it. But there's no one we'd rather face the big challenges with than you, our committed and passionate readers, and our team of fearless reporters who show up every day.

Thank you!

We didn't know what to expect when we told you we needed to raise $400,000 before our fiscal year closed on June 30, and we're thrilled to report that our incredible community of readers contributed some $415,000 to help us keep charging as hard as we can during this crazy year.

You just sent an incredible message: that quality journalism doesn't have to answer to advertisers, billionaires, or hedge funds; that newsrooms can eke out an existence thanks primarily to the generosity of its readers. That's so powerful. Especially during what's been called a "media extinction event" when those looking to make a profit from the news pull back, the Mother Jones community steps in.

The months and years ahead won't be easy. Far from it. But there's no one we'd rather face the big challenges with than you, our committed and passionate readers, and our team of fearless reporters who show up every day.

We Recommend

Latest

Sign up for our newsletters

Subscribe and we'll send Mother Jones straight to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate

We have a new comment system! We are now using Coral, from Vox Media, for comments on all new articles. We'd love your feedback.