Knight
Well-known Member
Still, Social Security is in trouble. The two trust funds that support the program, which pays out retirement benefits as well as disability and survivorship benefits, are already at risk of running out of money within the next two decades. With the impact of the pandemic under review, the CBO estimates the insolvency date for Social Security Disability Insurance to be 2026, and the Social Security retirement program, known as Old-Age and Survivors Insurance, by 2031. Medicare Hospital Insurance faces insolvency by 2024 if nothing is done to rectify these projections.
“In other words, today’s youngest retirees will face a sharp 25% drop in their benefits when they turn 73,” the CRFB said in an analysis about the CBO’s report. The cut is attributed to less tax revenue, an aging population that will inevitably claim Social Security benefits and trust fund assets that grow at a lower interest rate.
https://www.marketwatch.com/story/t...al-security-benefits-2020-09-03?siteid=yhoof2
Key word in title is "May"
Politicians want to be re-elected so up to now kicking the can down the road has worked. The problem now is politicians are running out of that road.
“In other words, today’s youngest retirees will face a sharp 25% drop in their benefits when they turn 73,” the CRFB said in an analysis about the CBO’s report. The cut is attributed to less tax revenue, an aging population that will inevitably claim Social Security benefits and trust fund assets that grow at a lower interest rate.
https://www.marketwatch.com/story/t...al-security-benefits-2020-09-03?siteid=yhoof2
Key word in title is "May"
Politicians want to be re-elected so up to now kicking the can down the road has worked. The problem now is politicians are running out of that road.
