Former State Senator Joe Bolkcom served on the Senate Ways and Means Committee for 24 years, including ten years as chair. This piece first appeared in the Prairie Progressive.
For nearly a century, Social Security has provided life-sustaining economic security to millions of Iowa families. But that guarantee is now under serious threat. In just eight short years, the Social Security Administration projects a 23 percent cut in monthly benefits unless Congress and the president act to fix the system—a problem experts have warned about for decades.
The good news? There are pragmatic, responsible solutions to keep Social Security solvent for generations to come. The bad news? Social Security is barreling toward insolvency. Congress—currently controlled by Republicans—is mired in chaos and dysfunction, unable or unwilling to make life more affordable for everyday Americans, let alone fix Social Security.
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