In 1983, congressional Democrats and Republican President Ronald Reagan agreed on reform measures to extend the life of Social Security. The compromise included tax increases and benefit reductions. (Yes, President Reagan raised taxes.)
Much — perhaps too much — has been made of this deal between Reagan and House Speaker Tip O’Neill, D-Mass. The era was not a perfect example of bipartisanship, a sort of fantasy land where ugly political rhetoric was never heard. Yet, something worked, and chances are that you or someone you care about benefited from this 1983 bargain, which extended the life of Social Security for decades.
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Bob Davis is associate publisher/editor of The Anniston Star. Contact him at 256-235-3540 or firstname.lastname@example.org. Twitter: EditorBobDavis