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Will US Congress Change Social Security? | US Politics In: 60 | GZERO Media

Will US Congress change Social Security?

Jon Lieber, head of Eurasia Group's coverage of political and policy developments in Washington, DC shares his perspective on US politics.

Is Congress considering changes to Social Security?

No. Social Security's been in the news this week because of a record high adjustment to retirees’ benefits that's set to take place next year. Social Security benefits are indexed to inflation, and with inflation running at over 8% over the last year, seniors are going to get a cost of living adjustment equal to 8.7%. This is the largest increase since 1981 and comes after nearly a decade where Social Security benefits were nearly flat because inflation has been so low and stable. Inflation is continuing to run out of control at the moment, with rent prices and food prices rising at record rates, but this is not the only reason that Social Security's in the news. President Biden and other Democrats are campaigning on the premise that Republicans are set to put Social Security benefits "on the chopping block" should they win in the November elections.

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When Did Society Stop Working for the People in It? | GZERO World

How the social contract broke

Anyone who's seen an episode of "Leave it to Beaver" or "The Wonder Years" knows how the American dream is supposed to work: the white picket fence, the suburban home and the 2.5 handsome young children playing in the backyard. It's a sort of social contract, one that this country has built its identify around for the last half century. But is that dream dead? Or at the very least, far outdated? Few young people today can expect a stable career without an expensive college education and many older people are spending far more years in retirement than past generations. So what do we do when the social contract breaks down? And how do we patch up all the holes in the social safety net? London School of Economics Director Minouche Shafik shares some solutions (hint: "free money" isn't one of them).

Watch the episode: Is modern society broken?

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