Cassidy on Fox Business: Congress Needs to Have the Guts to Step Up, Address Social Security

WASHINGTON – U.S. Senator Bill Cassidy, M.D. (R-LA) joined Fox Business to discuss his plan to protect current and future retirees from a 22-28% cut to Social Security benefits in six short years. Cassidy urged Congress to step up and put a process in place to consider solutions for solvency. “What I am suggesting is we set up an investment fund. You called it a sovereign wealth fund. You could call it the nation’s 401k, and you set it up, separate from the Social Security Trust Fund, you put money in it, and you allow it to grow with the nation’s economy,” said Dr. Cassidy. “We just need Congress to have the guts to step up and take action now and not continue to postpone until it’s too late. And they can’t even pass a bill to even discuss ideas. That’s the big problem,” continued Dr. Cassidy. Background Cassidy has outlined his plan to rescue Social Security from insolvency by creating a sovereign wealth fund independent of the Social Security Trust Fund. He has written extensively on his proposal in the Washington Post , the Wall Street Journal , State Affairs , and the Washington Examiner . On the U.S. Senate floor, Cassidy has repeatedly called on Congress to act to save the program, and challenged the U.S. Senate to stop being good politicians and start being good senators. Most recently, Cassidy and U.S. Senator Dick Durbin (D-IL) published an op-ed in the Washington Examiner calling on their colleagues to join their bipartisan effort to address Social Security’s looming insolvency. ###