Connect with us

Hi, what are you looking for?

Finance

Biden Nominates Former Maryland Gov. Martin O’Malley to Take Charge of Social Security, Receives Growing Support

Biden Nominates Former Maryland Gov. Martin O’Malley to Take Charge of Social Security, Receives Growing Support (Photo: CNN)
Biden Nominates Former Maryland Gov. Martin O’Malley to Take Charge of Social Security, Receives Growing Support (Photo: CNN)

President Joe Biden has nominated former Maryland Gov. Martin O’Malley to head the Social Security Administration and he is receiving growing support from advocacy and union groups.

President Biden praised former Gov. Martin O’Malley as a dedicated public servant with a strong commitment to making government more accessible and transparent. (Photo: Locker Dome)

President Biden praised former Gov. Martin O’Malley as a dedicated public servant with a strong commitment to making government more accessible and transparent. (Photo: Locker Dome)

Biden Nominates Former Maryland Gov. Martin O’Malley

If confirmed, former Gov. Martin O’Malley will be tasked with overseeing the functioning of a program that serves around 70 million people, including retirees, disabled individuals, and children, who depend on Social Security benefits.

According to the Star Democrat, President Biden praised former Gov. Martin O’Malley as a dedicated public servant with a strong commitment to making government more accessible and transparent.

During his tenure as Governor of Maryland from 2007 to 2015 and as two-term Baltimore mayor, former Gov. Martin O’Malley demonstrated his ability to enhance government efficiency and improve access to critical services for millions of people.

However, former Gov. Martin O’Malley faces significant challenges in his potential new role.

The annual Social Security and Medicare trustees report released in March warned that the program’s trust fund could run out in approximately 10 years, leading to a scenario where the government could only pay 80% of the scheduled benefits.

To ensure the long-term viability of Social Security, several options have been suggested, each carrying its own set of political controversies. These options include raising taxes, increasing the eligibility age, cutting costs, or relying more on general revenues to cover the funding gap.

Each proposal has its proponents and opponents, making the decision on how to proceed a complex and sensitive matter.

READ ALSO: $130 Million For Student Loan Balances To Be Provided For 7,400 CollegeAmerica Borrowers

Former Maryland Gov. Martin O’Malley Gains Support

According to ABC News, Everett Kelley, president of the American Federation of Government Employees workers union, expressed support for former Gov. Martin O’Malley’s nomination, citing his advocacy for working people and labor rights, as well as his experience in addressing the challenges faced by the SSA.

Nancy Altman, president of Social Security Works, also applauded former Gov. Martin O’Malley’s nomination, praising his long-standing support for Social Security and his commitment to expanding the program’s modest benefits, rather than cutting them.

Notably, Social Security recipients experienced a historic 8.7% increase in their benefits in 2023, a response to record-high inflation. The program is funded by payroll taxes collected from both workers and their employers, with a maximum earnings cap subject to Social Security payroll taxes.

As former Gov. Martin O’Malley awaits confirmation, the future of Social Security remains a critical issue, and his leadership will play a crucial role in shaping the program’s trajectory.

READ ALSO: $130 Million Student Loan Cancellation At Colorado College: Biden Administration Announced!

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *