Treasury Warns Social Security Fund Will Run Out of Money by 2033
A new government report shows that the Social Security system’s main trust fund will be depleted by 2033, one year sooner than a prior estimate, adding to concerns about the fund’s solvency.The Treasury Department has released a report following a meeting of the Social Security Board of Trustees, in which it warns that the federal Old-Age and Survivors Insurance (OASI) Trust Fund will become “inadequate” within the next 10 years.
Trump said in January 2023, "Under no circumstances should Republicans vote to cut a single penny from Medicare or Social Security. Cut waste, fraud and abuse everywhere that we can find it and there is plenty, there's plenty of it," he continued. "But do not cut the benefits our seniors worked for and paid for their entire lives. Save Social Security, don't destroy it."
2023 Annual Report
3 comments:
Is the elected government going to do something, or are they just going to sit on their hands?
Raise the retirement age and hike payroll taxes...that will help save it. Get the bums collecting from it who never contributed a dime off of it.
They should have done that 20 years ago. It was 6.2 years ago. If they had raised it to 6.3 or 6.4, nobody would have even noticed, but they are too stupid. Can't stop arguing to get something done for the American people.
We need another party.
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