A top White House official said Sunday that the most pressing threat to Social Security is Republican lawmakers, despite government projections that the retirement benefits will run dry in a decade.
Shalanda Young, director of the Office of Management and Budget, pointed the finger at the GOP in the wake of President Biden releasing his budget proposal that includes trillions in new taxes and amid a feud with House Republicans over spending cuts.
“Let me be clear: the top existential threat to Social Security is those in this town who want to cut it,” Ms. Young said on CNN’s “State of the Union.” “I wish we were in the part of the debate where we can talk about extending it. This president chose to focus on protecting benefits, and that’s what [his budget] does.”
Republicans reject accusations they want to slash the retirement benefit in the face of consistent criticism from Mr. Biden.
The nonpartisan Congressional Budget Office says Social Security is set to become insolvent by 2033 and cause steep cuts to benefits, prompting concern in Washington that something must be done to ensure the long-term viability of the entitlement program.