Letter to the Editor: Fixing Social Security Is a Political Problem
Joseph Sternberg doubts that outside experts can advance Social Security reform because “it’s a political rather than a technocratic issue” (“Is Congress About to Reform Social Security?” Political Economics, Aug. 14). But that is precisely the point. Political disincentives have encouraged Congress to delay reform for decades. An independent commission can help break the political stalemate.
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Social Security’s financing shortfall is nearly 2½ times as large as in 1982, and many of the easier options available then, such as subjecting more workers to payroll taxes, have already been used. Closing the much larger 2032 gap requires tougher choices. This calls for a stronger commission modeled on the successful Base Realignment and Closure process.
A BRAC-style commission would differ from failed fiscal commissions in two important ways. It would consist of independent experts rather than elected representatives, insulating its recommendations from political pressures. And its recommendations would benefit from default adoption: Congress could reject the package, retaining final say, but not amend it. Americans support this approach. A recent Cato Institute poll found that 71% favor giving an independent commission authority to address Social Security’s financing problem.
Social Security reform is unavoidably political. The question is whether Congress can create a process that makes confronting those politics possible. A BRAC-style commission offers such a path.
Source: https://www.cato.org/commentary/letter-editor-fixing-social-security-political-problem
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