While I strongly believe in the need to maintain a strong and viable Social Security safety net for America’s seniors, there is no question that the federal government must implement reforms to address the growing fiscal crisis that is facing the Social Security balance sheet. In 2010, we reached a tipping point in the program where the number of individuals receiving benefits from Social Security began to outnumber those who are paying into the system. As a direct result of the skyrocketing unemployment rate our country has witnessed over the past three years under Barack Obama's economic agenda, there are fewer and fewer employees paying into a system that was already fiscally unbalanced. The tipping point for Social Security arrived years sooner than many expected due to a broken fiscal agenda in Washington, which has been defined by massive deficit spending, overburdensome regulations and the never ending threats of new tax hikes.
It is imperative that leaders in Washington ensure that Social Security benefits are protected and that needed reforms are brought to bear that would not raise taxes or privatize the system.
Congressman Renacci protecting our seniors and stopping the growing fiscal crisis!