What About Social Security?

So, what do you know about Social Security? USA Today reported that President Joe Biden should learn a lesson in leadership from Emmanuel Macron, his counterpart across the pond. The French president has followed through on campaign promises to address pension shortfalls by raising the retirement age to 64 from 62. Guess what? A lot of people don’t like it, and the French have taken to the streets. Yet, Macron isn't deterred by the potential political fallout. He knows it must be done. “One cannot play with the future of the country,” Macron said recently to government ministers. Rather than talk straight with Americans about what must be done to ensure that U.S. entitlement programs such as Social Security and Medicare remain solvent, Biden prefers to play politics. So calling upon Ronald Reagan for wisdom, we’ll listen to two addresses in this podcast on the subject – the first from November 1977 which goes into the history and purpose of Social Security…and in the second half of the podcast, we’ll listen to his speech, six years later, in 1983 after amendments were finally made to save the system.