U.S. Sen. Cassidy holds Treasury Secretary Yellen’s feet to the fire on social security

Sen. Cassidy, (R-LA), has a resume most could only aspire to, but never equal. He is also knowledgeable enough to smell rotten baloney when it’s being tossed his way as Treasury Secretary Janet Yellen attempted to do Thursday.

Appearing before the Senate’s Finance Committee, Yellen was repeatedly asked by Republicans about the lack of a Social Security plan in Pres. Biden’s recent budget proposal and democrat’s false claims that Republicans intend to slash the program. Sen. Cassidy stated that he is involved in bipartisan talks on the matter, but has been unable to schedule an Oval Office meeting to discuss them further.

This White House “fact sheet” titled, “The President’s Budget: Extending Medicare Solvency by 25 Years or More, Strengthening Medicare, and Lowering Health Care Costs,“ double talks and attempts to obscure the pressing problems of the severely under-funded program, while obviously omitting from the Ponzi scheme that younger American workers paying for the benefits their grandparents are currently accessing, will be left without funding in their own retirement years.

The Social Security Act, signed into law in 1935 by democrat Pres. Franklin Roosevelt created Social Security, regarded as a federal safety net for elderly and unemployed Americans. The main stipulation of the original Social Security Act was to pay financial benefits to retirees over age 65 based on lifetime payroll tax contributions. In 1935, the life expectancy of the average American male was 59, so it worked out well with few able to collect. Social Security did not extend to widows and children until 1939. The average salary in 1935 was $471 a year. The average salary of high earners in that time period was $1,070 per year.     

On Feb. 13, Sen. Bernie Sanders (I-VT) reintroduced The Social Security Expansion Act in Congress, expanding individual’s benefits by an additional $2,400 a year. A Socialist masquerading as an Independent, Sanders (who caucuses with the dems) will have more support from dems in pushing the initiative, as they face upcoming elections and their constituents irrationally think these unsustainable, expansive programs are free.