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| A Weekly Dose of Reality on Social Security Reform July 12th |
The Cost of Inaction on Social Security: $600 Billion A Year
With every moment that Congress waits to fix Social Security, the price tag on reform increases, and the financial burden for the American people continues to skyrocket. With the cost of inaction set at $600 billion a year [2004 OASDI Trustees Report], that wasted money could be spent on better things.
It could:
- Pay for No Child Left Behind in 34 days.
- Fund the Medicare program in 207 days.
- Fund the Pell Grant Program in 9 days.
- Fund Troops to Teachers in 10 minutes.
- Pay for "Cover the Kids" health care program in less than 1 day.
- Pay for the Temporary Assistance for Needy Families Program in 30 days.
- Fund Safe and Drug Free schools state grants in 5 hours.
- Fully fund the State Children's Health Insurance Program in 24 days.
- Pay for the Emergency Plan for AIDS Relief in 9 days.
- Fund Head Start in 4 days.
The American people deserve to have their taxpayer dollars spent efficiently and productively. The public should not have to shoulder the steep financial burden of waiting for a more politically convenient time to reform the Social Security system.