In a Forbes column, NIRS Executive Director Dan Doonan writes time is on the side of those who save early, and this is just as true for Congress and Social Security as it is for an office worker putting savings into their 401(k).

The options for strengthening Social Security’s finances only become more expensive the closer we get to the date of the trust fund’s exhaustion, and potentially making up the shortfall with general fund revenues would be one of the most expensive options of all. Congress could demonstrate a real commitment not just to the growing senior population, but to fiscal responsibility by acting soon to shore up Social Security’s financing.

Read the full column.