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Congratulations on a very good, balanced editorial on the president’s proposed Social Security reform.
Two additional facts your readers may want to note:
The “surplus” you refer to is the amount of debt the system currently holds, represented by U.S. Treasury securities. While this amount was generated by a tax surplus (the excess of tax collected over benefits paid out in prior years), it is now money the taxpayers owe to themselves and not a legitimate surplus. Those debt securities need to be repaid and higher taxes or more debt issuance will be the only way to do so.
Second, you failed to point out (maybe because it is so obvious) that the reform the president suggests is much more important to do now, rather than later.
