The Congressional Budget Office (CBO) has proposed a radical idea to stabilize Social Security: replacing all future benefits with a flat monthly payment of $1,660 per person or $2,250 per couple
While this would raise benefits for about 25% of recipients, it would slash them for 75%, since the average current benefit is $1,900.
It mimics other countries' pension systems focused on a universal basic income for retirees
Despite its severity, the proposal would only save $607 billion over 10 years—just a fraction of the $4 trillion cost of extending proposed tax cuts.
Even more dramatic fixes, like raising the retirement age or taxing higher incomes, wouldn’t close the funding gap alone.
The Social Security trust fund faces a $23 trillion shortfall, and the national debt has soared from $19 trillion in 2016 to $36 trillion, now over 100% of GDP
The CBO projects debt could hit 156% of GDP by 2055. Meanwhile, former President Trump pledges to protect Social Security and Medicare while backing deficit-boosting tax cuts.