Is there a problem with Social Security funding? Not right now, there isn’t. Will there be a problem with Social Security funding in the future? It’s likely, though projections indicate that the problem could be just a short-term deficit, and not very large.
The good news is that the solution is within easy reach. Scale back America’s war machine, and Social Security funding won’t be any problem at all.
According to preliminary figures from the Congressional Budget Office outlays for Social Security through July were 546 billion dollars. That’s a lot of money, but military spending has been about the same: 531 billion dollars.
What would happen if Social Security spending were cut to 20 percent of its current level? Huge numbers of Americans would go hungry and be kicked out onto the streets. Massive social chaos would result.
What would happen if the American military budget were cut to 20 percent of its current level? We’d have fewer weapons to fight with, but American military spending would still be safely higher than that of China, the strongest potential adversary of the United States. The U.S. military budget would still be more than twice what Russia spends on its military.
If the United States were to reduce its military spending to 20 percent of its current level, the result would be 568.8 billion dollars in savings every year. That would be more than enough to make up for gaps in the projected budget of Social Security for as far as anyone could project, and to keep Medicare and Medicaid financially solid far into the future as well.
So why aren’t we doing it? Why not cut military spending down to appropriate levels? Because we really need to maintain the U.S. military presence in Paraguay?