The most recent report indicates that Social Security will be insolvent by 2033, and we must save the program, Sen. Bill Cassidy, R-La., told Newsmax on Tuesday.
Cassidy said to "Wake Up America" that "we should save Social Security. Doing nothing should not be an option."
The senator pointed out that by law, if Social Security does become insolvent, there must be a 25% cut in benefits for everyone, which he said would mean that many seniors will fall into poverty.
However, Cassidy, who recently introduced legislation to declare Aug. 14 as National Save Social Security Day in an attempt to highlight the urgent need to salvage the program, said "there is a way to address this" problem.
Cassidy said he has "proposed coming up with a sovereign wealth fund, somewhat similar to what President [Donald] Trump has proposed, and you would use the proceeds of it to bail out Social Security. You don't have to raise taxes, you don't have to cut benefits for seniors. It is a way to address the shortfall."
Cassidy also lauded Trump for federalizing the D.C. police, saying there has always been a sort of attitude of a bit of tolerance of the high level of crime in the city, "and Trump is not standing for that."
"I think Trump continues the [Republican] tradition of pushing back against the kind of Democratic laissez-faire in trying to make the situation better," he added.
"They say that a conservative is a liberal who just got mugged. I think there are a lot of people in D.C. who probably are liberal, but they have been mugged or seen a friend that has been mugged and want to see something happen."
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Brian Freeman ✉
Brian Freeman, a Newsmax writer based in Israel, has more than three decades writing and editing about culture and politics for newspapers, online and television.