This podcast delves into a recent interview with Martin Raleigh, the Commissioner of the Social Security Administration (SSA), where he discusses the agency's pressing challenges. The conversation highlights two crucial points: the potential for a 17% or more cut in Social Security benefits by 2035, driven by demographic changes and inadequate funding, and the critical understaffing at SSA field offices, which is resulting in long wait times and poor customer service. Raleigh calls for increased funding to tackle these issues, suggesting that the funding shortfall is largely due to congressional inaction. Host Attorney Walter Hnot adds his perspective, discussing the political ramifications and pointing out that inflation and a lack of government investment are key factors in the SSA’s struggles. Through this discussion, listeners gain a clearer understanding of the challenges facing Social Security and the political dynamics at play regarding its future.
