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vestment income and voluntary salary cuts, like 401(k) contributions, as well as raising the retirement age to 69. However, all these ideas have met with
opposition.
FISCAL CLIFF Despite numerous obstacles to reform, his- tory demonstrates that lawmakers will act when necessary. Amendments in 1983, during President
Ronald Reagan’s administration, addressed a similar funding crisis by gradually raising the retirement age from 65 to 67, increasing payroll taxes, and taxing some benefits for higher earners, which helped sustain the pro- gram’s solvency for decades. Although a fiscal cliff for Social Security is
approaching quickly, experts say that, like in 1983, a solution is likely to be found and se- niors should have no worries that the prom- ised funds will not be delivered as scheduled. According to Biggs, the reason the gov-
ernment will keep its promise to pay on time is that any cuts to benefits would be political suicide. A significant majority of people support
increasing taxes rather than cutting benefits. A survey by the National Academy of So-
cial Insurance found that only 15% of people oppose raising taxes on all Americans, even if it results in reduced benefits. The remaining respondents preferred maintaining benefits, even if it means raising taxes on some or all Americans.
This shift is relatively recent, according to
Biggs, and indicates a larger shift in the po- litical Overton window. “The no cuts used to be the position of
most liberal Democrats, but in recent years, especially under Trump, the center of grav- ity politically has shifted well to the left,” said Biggs. “There isn’t a single politician alive today who would stand up and say they are going to cut benefits to seniors.” A YouGov poll released in March found
that 54% of Americans believed Social Secu- rity cuts would harm their financial security. Only 13% thought it would help, while 16% believed it would have no effect. According to Lawson, despite serious cash shortages, Social Security will last as long as America exists, recalling a quote from Rea- gan, who famously said that “a government bureau is the nearest thing to eternal life we’ll ever see on this earth.” Ultimately, the main reason Americans
will continue to receive their Social Security benefits in full and on time, according to Law- son, is that its supporters have a strong demo- graphic advantage in a key constituency that has the power to overcome any obstacle. “Seniors have a superpower — they always come out to vote,” he said. Trump was also quick to dismiss claims
that Social Security would vanish under his ad- ministration, but not before adding a caveat. “You keep hearing stories that in six years,
seven years, Social Security will be gone, and it will be if the Democrats ever get involved because they don’t know what they’re doing,” Trump said. “But it’s going to be around a long time with us.”
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OCTOBER 2025 | NEWSMAX 67
“There isn’t a single politician alive today who would stand up and say they are going to cut benefits to seniors.”
— Andrew G. Biggs, economist and former principal deputy commissioner of the Social Security Administration
ERHUI1979/GETTY IMAGES
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