Ron DeSantis Floats Changes to Social Security for Younger Generations
S E E D E D C O N T E N T
Florida Governor Ron DeSantis has said that changes in Social Security for younger people might have to be made to keep the program "viable" in the future.
DeSantis, who is seeking the Republican presidential nomination for 2024, made the remarks during an interview with Fox News' Mediabuzz on Sunday where he said Social Security for seniors should not be affected.
The Republican is competing for his party's nomination against a wide field of opponents but former President Donald Trump continues to be the frontrunner—and he's attacked DeSantis on the issue of Social Security in the past.
During Sunday's interview, DeSantis was asked about his previous support for privatizing Social Security and raising the retirement age to 70 while he was in the House of Representatives.
"Well, I've always said 'promise made, promise kept.' I'm a governor of Florida. Of course, we're going to protect people's Social Security," the governor replied. "My grandmother passed away when she was 91. That was her sole source of income. And that's true for millions of seniors. And so that goes without saying."
"So when people say that we're gonna somehow cut seniors—that is totally not true," DeSantis went on
"Talking about making changes for people in their 30s or 40s so that the program's viable —you know, that's a much different thing and that's something that I think that there's going to need to be discussions on," he said.
The governor said that his current position on Social Security didn't represent a change in his views and discussed the lack of a surplus for the program.
"We gotta make sure that we preserve it for our seniors 'cause they depend on it," DeSantis said.
Newsweek has reached out to the DeSantis campaign via email for comment.
The 2023 annual report from the Social Security Board of Trustees found that funds that support Social Security will be depleted by 2034, which will cause an automatic reduction in the level of benefits that are paid out.
According to the AARP: "That does not mean Social Security will no longer be around; it means the system will exhaust its cash reserves and will be able to pay out only what it takes in year-to-year in Social Security taxes. If this comes to pass, Social Security would be able to pay about 80 percent of the benefits to which retired and disabled workers are entitled."
Video of the Republican's remarks was shared to Twitter on Sunday by user Acyn and several other users responded to DeSantis' remarks with skepticism.
"Playing one generation against another is not a good long term strategy," tweeted user Matt Clarke 4 EFTA.
User EssenViews responded by tweeting: "Because people in the 30s and 40s will never become seniors?"
"We not screwing seniors, we're screwing the middle working class," wrote Elizabeth Kim.
However, some Twitter users defended DeSantis' argument about reforming Social Security. User mallen2023 wrote that DeSantis was "being realistic" and added that "Something has to be done or by 2033 there will be a 23% cut in all benefits."
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Bye Bye Ron!
In the past, he has stated that he would like to privatize SS (or part of it) that I am against. Also I didn't see anything about raising the max contribution which also I believe that it will have to be part of the solution.
The Republicans have been trying to move SS private since Reagan. There is a lot of money to be made gambling with other people's money.
Almost all pension funds are traded on the stock market which is why some people don't have a pension today
Pension fund managers have to try to balance while achieving sufficient investment returns to cover the promised retirement payouts. Fixed-income securities, usually are a large part of the pension portfolios, along with some blue-chip stocks. More recently, pensions have made small investments in real estate and alternative asset classes.
There is over $6.3 trillion in future retirement benefits promised to the public state and local employees, but just $4.9 trillion available to pay those benefits. State aggregated have a pension delta of around $1.4 trillion, as of last year. Chicago and NYC have the largest gap in funding their employee pensions.
The brokerage houses would be standing in line to get their mitts on some of this money. Lobby efforts (money honey) will be flowing freely to the politicians.
Agreed, as long as it’s protected from being raided for other purposes.
All in.
I hate to say it but the chances of Ron DeSantis being the GOP nominee probably went up a little today.
So, he's only 15 points behind in the polls now?
Yawn, Obama was 18 points behind Clinton as late as Dec. 2007.