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 ...
But we never “run” out of money for wars, welfare, etc. I’m gonna be 70 this year. Thankfully I have the means to live without it if it comes down to it.
I should be 85 that year.
Don't tell me there is no money for grandpa. Sell oil leases, federal lands, cut spending, but don't mess with grandma.
Can I identify as an illegal alien so my checks will never run out?
Is the folks in Galveston, Tx....still opted out of SSI?
Prolly!! Si’ Amigo
That is, and has been for a long time, the wise approach.
The balance of these special securities are known as the "Social Security Trust Fund", earning a market rate of interest.
This title has been marked as misinformation because the fund currently has a negative balance of almost 3 trillion dollars according to the fund's trustees, but others estimate the negative balance to be over 20 trillion.
Sources :
As we shovel 100 billion dollars a year into the maw of the Ukraine Grift Furnace...
nope. she deleted that tweet.
You are stuck in the trees and not looking at the forest.
The “trust fund” is a delusion—an accounting farce.
Writing numbers on pieces of paper and declaring them “bonds” is just outright fraud.
There is no market for them.
This is propaganda garbage—there is no “there there”.
It would be like Al Capone handing you a piece of paper saying he owes you x thousand dollars a year in the future.
The paper is worthless unless Al Capone and/or his heirs choose to honor it.
You have zero recourse.
The “trust fund” reminds me of the old Woody Allen movie “Love and Death”.
The Russian farmer picks up a piece of turf and holds it high above his head.
“This is my land” he says.
100 billion here, 100 billion there... soon you are talking about real money.
Also, crash the US system, or touch the retirement of US retirees, and how much support you think there will be here in America for a proxy war using Uke nazis?
Damn it, I will be only 93 years old in 2033. I was hoping to collect full SS benefits until age 100.
Return funds stolen from Social Security over the years - most recently, the Affordable Care Act. Congress has used it as their piggy-bank and they must stop it.
Can’t do that.
You can’t steal money from a fund that never existed in the first place.
Yep . . . . THAT'LL do it.
But Hillary said the trust fund is just fine. So everyone else must be mistaken.
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