When Barack Obama is sworn in as president next week, he will be walking into what some people have called the worst job in the world. With crises abroad and at home, he and his advisers will have plenty to keep them busy, be he seems unfazed by difficulties. He demonstrated his fearlessness again by talking about making changes to Social Security, one of the most valued programs in the country. As John Diaz writes in the Chronicle, Obama is determined to make the program viable for the long term. Right now, if no changes are made, the program is in danger of using up its trust fund by 2041 and becoming unable to pay out promised benefits. This future could be avoided by raising the level of income on which payroll taxes are collected. Most people who are earning more than $100,800 a year will not be greatly hurt by paying the payroll tax on income over that level. And the difference in the amount of security given to current workers and their children will be tremendous. Let’s hope that President Obama moves quickly on ensuring the future of Social Security for all of us.
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