Benefit Cliffhangers: The End (or Reformation) of Social Benefit Programs

State Government Affairs Council 2019 Leaders' Policy Conference

On November 25, Tony traveled to Charleston, South Carolina to speak at the State Government Affairs Council 2019 Leaders' Policy Conference. During an orchestrated and entertaining presentation featuring multiple speakers covering a myriad of topics, Tony discussed several social benefit programs that could fail within our lifetime if significant changes are not made. Using timelines from the U.S. Government Accountability Office, Tony showed how Social Security’s Disability Insurance, Medicare’s Hospital Insurance; and Social security Old-Age and Survivors Insurance will all be depleted over the next 16 years. He then discussed what this depletion can be attributed to, as well as the spending and revenues of the programs. Looking at research from the Pew Research Center, Tony showed how budgetary pressures and leading to significant debt and deficit levels, and discussed the risks this path contains. Before ending his presentation, Tony reviewed the possible solutions proposed by the U.S. Government Accountability Office.