However, the bigger problem here is for Joe Biden and pretty much any other president in the last 40 years: they have to get the needed votes in order to amend Social Security. Even if a simple majority of the vote in the House is more than enough, there have to be 60 votes in the Senate to make any kind of changes to the Social Security program.

Do you know when the last time 60 seats were held in the Senate was? 1970. That means that if it were to discuss any major overhaul of Social Security, it would have to include bipartisan support.

But taking a look at how things stand now, we might say that both parties think they have the superior plan to strengthen Social Security.

As Democrats would favor raising additional revenue and switching the inflationary measure to CPI-E, Republicans would rather gradually increase the full retirement age and use the chained CPI, which takes substation bias into account, instead of CPI-W.