Cable and television news outlets have overwhelmingly presented Social Security as a program that should be cut, giving little to no airtime for proposals that would instead strengthen the program for beneficiaries.
Media Matters research revealed significant media selection bias in the Social Security debate. Through the first six months of 2013, the three largest broadcast and cable news networks dedicated nearly 300 segments to discussions of Social Security. More than two-thirds of those segments framed the entire Social Security debate as a problem of long-term solvency and the national debt, which can only be solved through drastic cuts to beneficiaries.
Media's heavy focus on “fixing” the solvency of the program belies the fact that Social Security is funded for at least the next two decades.
On May 31, the Social Security Board of Trustees submitted its annual report to members of Congress and the White House, which concluded that Social Security "does not face an immediate crisis," as noted by the Center on Budget and Policy Priorities' summary of the report. The report recommends that lawmakers prudently address long-term solvency concerns, but need not immediately adopt deep benefit cuts.
The Economic Policy Institute argued, contrary to most news coverage, that the challenges facing Social Security are “modest and manageable.” Nobel Prize-winning economist Paul Krugman had a similar reaction to the latest Social Security report, noting “the system will be able to pay most of its scheduled benefits as far as the eye can see.” Krugman also recognized the irrationality of arguments made by those who claim to want to save Social Security from eventual collapse:
The risk is that we might, at some point in the future, have to cut benefits; to avoid this risk of future benefit cuts, we are supposed to act pre-emptively by...cutting future benefits. What problem, exactly, are we solving here?
While media coverage of Social Security paints the debate of the program as one-sided, members of Congress have put forth plans that would expand the program through need-based benefit increases and tax reform.
The most prominent Social Security expansion proposal involves raising the payroll tax cap from its current $113,700 annual limit. The payroll tax is the primary source of revenue for Social Security. A report from the Center for Economic and Policy Research revealed that placing a cap on taxable income causes low wage workers to pay higher effective rates than high wage workers. Eliminating the payroll tax cap would more evenly distribute payroll taxes to all workers while extending the life of the Social Security trust fund indefinitely.
In January 2013, the National Academy of Social Insurance conducted a comprehensive survey of American attitudes toward various Social Security reform proposals. The data revealed overwhelming support for lifting or raising the payroll tax cap, while respondents reported significant opposition to benefit cuts, including raising the retirement age and decreasing cost of living adjustments through chained CPI.
The Center for American Progress has also argued in favor of expanding Social Security through tax reform and increasing outlays to those beneficiaries who most rely on the program.
News segments devoted to the alleged demise of Social Security and other benefit programs consistently overlook these alternative proposals aimed at strengthening -- rather than cutting -- the program for beneficiaries.