Posted on 03/31/2023 9:16:19 AM PDT by ChicagoConservative27
Reserves for Social Security’s largest trust fund are on track to run out as soon as 2033, a board of trustees of the program’s accounts said in a report on Friday.
The estimate is one year sooner than previously projected for the Old-Age and Survivors Insurance (OASI) Trust Fund, which pays out Social Security benefits to retirees, in the trustees’ report from last year. If the reserves are depleted, the report projected income for the account would only cover 77 percent of scheduled benefits.
By contrast, the board estimated the program’s smaller Disability Insurance (DI) Trust Fund would not become depleted for at least 75 years.
While both funds are separate, the accounts have usually been considered as a combined fund when discussing the program’s solvency. Lawmakers have also allowed inter-fund borrowing between accounts to temporarily extend solvency in the past.
(Excerpt) Read more at thehill.com ...
Fauci will promote 666 more jabs.......
.
But we’re paying pensions for Ukrainians.
Legalize all drugs for those over 60
That makes no sense as the national debt is over 31 trillion dollars.
How come the welfare trust fund never runs out of money?
Rhetorical, we know the answer.
But of course. That’s the year I turn 67.
That’s okay, St. Dr. Greta says the earth is doomed before then....................
Whenever the Feds want to tax and spend more, one of their go-to techniques is to scare senior citizens.
Forget about cutting back on wasteful foreign aid, or on wasteful domestic pork programs. We’ve gotta raise the debt ceiling or grandpa will starve!
.
They spray money everywhere in the Spending Orgy.
Camel just dropped a fortune in Africa.
Money for everyone on earth - except Americans.
No other country on the planet has operated like this.
.
Let’s see. Yup right when I’m set to retire. Glad I have other things in place and am not reliant on this Ponzi scheme.
It’s much more likely to be something closer to 2028. You can’t keep up with inflation without increased COLAs, and those pull hard at the bottom line because they compound year after year. If Trump gets in next election, expect it to run out on his watch and the “solution” be a massive spending increase.
I know! Let’s just pour money out over the globe on the most insane ideas! That should fix it. Right? AmIright?
As far as the leftists are concerned: “The sooner America is bankrupt, the better!”
You pay it out of the General Funds....period...
And some still keep yelling “don’t touch social security” as if doing nothing will solve the problem.
The “board of trustees” has a “trust fund”....
Bwahahahahahaha.
I hope they don’t get exhausted staring at the file cabinet 24/7.
But “whatever it takes” for Ukraine....including funding their pensions.
Sure, because that 100 billion given to Ukraine would have saved Social Security for what... an additional week.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.