CALLING Byron Donalds to LET HIM KNOW

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CALLING Byron Donalds to LET HIM KNOW
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MSNBC host Joy Reid and Representative Byron Donalds (R., Fla.) got into a heated on-air exchange Tuesday after Donalds pointed out that Social Security will become insolvent in the near future if current trends hold.

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When Donalds raised the idea that the federal program will be “insolvent in 2035,” Reid interrupted saying that it was “not true” eleven times before changing the subject.

“Joy, I’m a finance professional. I do more than just Congress,” Donalds said during the tense exchange. “I’m telling you. [It] will go insolvent.”

According to research published by the Committee for a Responsible Federal Budget (CRFB), a non-partisan policy organization, Social Security’s Old-Age and Survivors Insurance fund could be insolvent by 2034, with combined Social Security trust funds facing the same fate by 2035. To comply with existing laws in the event of insolvency, Social Security benefits would be trimmed by 20 percent, also prompting Medicare Hospital Insurance payments to face a 10 percent cut.

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