Posted 3/14/2024, 4:53:48 PM
Cassidy Questions Biden, Trump Social Security Plans; Proposes New Investment Fund to Prevent Cuts
- Sen. Bill Cassidy accused Biden and Trump of not having real plans to save Social Security
- Cassidy said Biden's plan would result in a 24% benefit cut; Trump doesn't have a concrete proposal
- Projections estimate Social Security funds could face 20%+ cuts if no changes made, be depleted in 2030s
- Cassidy proposed creating a separate investment fund, modeling after other countries' retirement systems
- Cassidy said his idea could prevent cuts, but Varney questioned what would happen if stock market declines