Cole Letter to the Editor in the Claremore Daily Progress: Social Security cuts coming because Democrats ignore the problem

The following letter to the editor written by Congressman Tom Cole (OK-04) was originally published online at the Claremore Daily Progress.

I came to Washington, D.C. to make policy for the benefit and interests of my constituents. The biggest issues for most Americans are issues that concern their wallets. While House Republicans this Congress have been working on policies to tackle 40-year high inflation, reduce our national debt - which is the highest it has been since World War II – and save Social Security for its beneficiaries, bad faith actors want to use partisan rhetoric and cheap political shots to win elections instead. This is not productive and would let our economy waste away and put older Americans dependent on Social Security at risk.

We have all known of Social Security’s impending insolvency for years. And we have known that the longer the problem remains unsolved, the harder it gets. Every working American hoping to retire one day should hear the truth – without reforms, Social Security’s main trust fund is projected to be depleted by 2033. Based on the program’s funding mechanism, Social Security will only be able to pay out what comes in, and beneficiaries will be paid only 77 cents on every dollar they are due. This would be like cutting $391 from the average beneficiary’s monthly check of $1,700.

Contrary to what some in this outlet have argued, I do not want to cut Social Security. Nowhere have I argued for cutting Social Security. In fact, I am trying to prevent the coming cuts scheduled for a decade from now. Doing nothing about Social Security is not an option, as some would have you believe. The biggest attack on Social Security comes from those who want to simply ignore the issue, because if nothing is done, beneficiaries will see cuts.

Americans should hear another truth. Our national debt is the highest it has been. While Democrats often like to point to defense and other discretionary programs as the main driver of our debt, that is simply not true. Repealing the Tax Cuts and Jobs Act or implementing a wealth tax or carbon tax will not solve our debt crisis. The true drivers of our debt are mandatory programs, not lack of revenue. In fact, our nation's tax revenue is currently the highest in history. Mandatory programs, which include Social Security and Medicare, has grown from 34 percent of the federal budget in 1965 to 71 percent today. And over the next 30 years, Social Security faces a $36 trillion deficit and Medicare faces an $80 trillion deficit.

Addressing mandatory spending does not entail eliminating these programs critical to the livelihoods of retired Americans. In fact, saving these programs and ensuring they are funded into the future is exactly what House Republicans are trying to do, just as President Ronald Reagan did in 1983 when Social Security faced the same risk it does today. That is why for six Congresses now, I have led or co-led the Bipartisan Social Security Commission Act which would create an independent, bipartisan commission of 13 individuals appointed by the president and congressional leaders in both parties. The commission would be tasked with developing a proposal to ensure Social Security’s trust funds are solvent for the next 75 years. Any recommendation made by the commission must be made with the support of 9 of its 13 members, ensuring bipartisan consensus, and Congress would have a vote on the commission’s proposal. I am also cosponsoring the Fiscal Commission Act of 2023, bipartisan legislation to save multiple federal programs with insolvent trust funds.

I understand it is easy to accuse someone of wanting to cut Social Security or other earned benefits, and I get the political benefit of doing so. But lobbing these accusations does nothing to prevent the very real, scheduled cuts, and one must ask themselves who is really doing harm: the person trying to stop the cuts or the person whispering sweet lies as they lead you blindly off the cliff?

Tom Cole (R) is the U.S. representative for Oklahoma 4th congressional district. He has held this post since 2003. He serves as the chairperson of the House Rules Committee. Learn more about his leadership service at https://cole.house.gov/. His office can be reached at 202-225-3512.