‘Trust fund’ financing makes Social Security and Medicare needlessly costly.
As congressional Republicans search for ways to rein in federal spending, Senator Mitt Romney (R., Utah) has sought to revive the Time to Rescue United States Trusts (TRUST) Act. That bill would force Congress to consider legislation to restore the solvency of “trust funds” associated with America’s largest entitlement programs by balancing long-term expenditures and the payroll-tax revenues dedicated to them.
Continue reading the entire piece here at National Review Online (paywall)
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Chris Pope is a senior fellow at the Manhattan Institute. Follow him on Twitter here.
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