In this disturbing video of testimony before Congress on February 28, 2012, the Chief Actuary of the Social Security Administration, Stephen Goss, tells U.S. House Budget Committee Chairman Paul Ryan that Social Security benefits will have to be cut by 23%, including
benefits to current beneficiaries, if Congress does nothing to reform the system. Keep in mind that this is the top Social Security expert in the Obama administration talking to the top Republican budget official in the U.S. government. There is no argument or disagreement. There is no shouting or finger-pointing. This not a campaign commercial. It is sworn testimony before a committee of the United States Congress. In fact, that is what makes the exchange so troubling: The top officials on both sides are in total agreement that Social Security benefits must be
cut 23%, and it even affects current retirees. You can watch the three minute-long exchange for yourself by clicking on the video.