(Radio Iowa) – Iowa Senator Chuck Grassley says the latest estimates predict Social Security may no longer be viable by as soon as 2032 and he’s hopeful a hearing this week may yield some ideas and options to keep the program alive.
“It’s very important that we get on top of this,” Grassley says. “The trouble is Republicans are in control, but you’ll never get this done unless it’s approached in a bipartisan way.” More than 530-thousand Iowa retirees are drawing Social Security, while another 72-thousand are on disability, with tens of thousands more surviving spouses and children drawing benefits. Nationwide, there are some 68-million Social Security beneficiaries. Grassley, a Republican, says the program has been threatened on many past occasions.
“The last time it was in trouble, 1983, there was President Reagan, and then at that time, a Democratic Speaker of the House, Tip O’Neill,” Grassley says. “They felt that Social Security was such an important part of the social fabric of American society that it ought to continue. You can’t let it go broke.” Grassley says he’s trying to remain optimistic this generation can make similar moves, mirroring the actions of statesmen like Reagan and O’Neill.
“They came up with something that I suppose they thought that was only going to last for 20 years,” Grassley says, “and here it is 50 years later, and what they did made Social Security sound for a 50-year period of time.” Grassley will take part in the Senate Budget Committee hearing on Wednesday at 9 A-M/Central called, “Social Security: A Discussion on the Facts and the Path Forward.”
