Durbin said that Republicans had to put tax revenue on the table to get entitlement cuts.
Fox host Chris Wallace noted that Durbin has previously supported entitlement cuts, and asked why Republicans should have to give up tax increases to get something that many Democrats support. President Barack Obama has repeatedly endorsed Social Security cuts as part of budget deals, and Durbin acknowledged that he did support Social Security reforms.
"Social Security is gonna run out of money in 20 years," Durbin said. "The Baby Boom generation is gonna blow away our future. We don't wanna see that happen."Huh?
Social Security will not run out of money in 20 years. The program currently enjoys a surplus of more than $2 trillion. Social Security will, however, be unable to pay all benefits at current levels if nothing is changed. If a 25 percent benefit cut were implemented in 20 years, the program would be solvent into the 2080s.Craziness of economic morons. As Alan Greenspan testified to Paul Ryan, the issue is not affordability but rather the availability of real resources in the future. That will depend on economic policy now.
The Huffington Post
Why Democrats Might Cave On Social Security Cuts
Zach Carter | Senior Political Economy Reporter
