Why Privatizing Social Security Is Such a Hot-Button Issue
Proposals to privatize Social Security are not new. They’ve been around for at least 30 years, when politicians and think tanks suggested private investment accounts as an option to address the program’s financial problems. Those problems are still around — and so are calls in some quarters to privatize it.
But previous efforts to privatize Social Security have run into a wall of opposition — especially from retirees who depend on the benefits. In 2004, then-President George W. Bush unveiled a plan for people to open their own private retirement accounts and provide the option to redirect payroll taxes into them. But the plan was doomed by resistance by both Democrats and some Republicans.
Nearly two decades later, the debate still hasn’t gone away. Proponents and opponents of privatization can both trot out several reasons to support their positions.
Learn the pros and cons of privatizing Social Security by clicking here.
July 2022 Social Security Benefits: When They Send Out
The next round of Social Security checks are scheduled to go out in early July. Here is how they are scheduled to be sent out:
- If your birth date is on the 1st-10th of the month, your payment is distributed on Wednesday, July 13.
- If your birth date is on the 11th-20th, your payment is distributed on Wednesday, July 20.
- If your birth date is on the 21st-31st, your payment is distributed on Wednesday, July 27.
You may also qualify for Supplemental Security Income (SSI) if Social Security isn’t enough to cover your basic living expenses. The SSI program sends monthly payments to adults and children with a disability (or blindness) who meet financial qualifications. SSI is also available to those 65 years and older who have limited income and financial resources.
If you received Social Security before May 1997 — or if you’re receiving both Social Security and SSI — then you will receive both your Social Security and SSI payment on July 1.
When Do SNAP EBT Benefit Payments Disburse in July 2022?
Payments are deposited monthly into SNAP accounts, which are linked to EBT cards. Some states have different names for EBT cards, so yours may be called something different.
Benefits can be used to purchase eligible food items, such as:
- Fruits and vegetables
- Meat, fish and poultry
- dairy products
- Bread and cereals
- Snack foods and non-alcoholic beverages
- Seeds and plants, which produce food for the household to eat
SNAP benefits cannot be used to purchase alcoholic beverages, tobacco products, vitamins, medicines, supplements or nonfood items.
For more on SNAP payments for the month of July, click here.