Posted on 05/06/2024 1:48:54 PM PDT by ChicagoConservative27
The combined trust funds for Social Security are projected to run out a year later than previously expected, a board of trustees of the program’s accounts said Monday.
In the latest report, trustees expect the projected depletion date for the Old-Age and Survivors Insurance (OASI) Trust Fund, which pays out Social Security benefits to retirees, and the program’s smaller Disability Insurance (DI) Trust Fund is 2035.
Biden administration officials said the projected depletion date for the OASI trust funds has moved to November 2033, seven months later than last year’s projection, partly due to economic growth.
On a call with reporters ahead of the release, an official said the trustees increased their assumed level of labor productivity and GDP in the coming years after economic growth exceeded expectations last year.
(Excerpt) Read more at thehill.com ...
Yep, the clot shot killed untold numbers of senior citizens.
I decided to take mine. I’m getting a little less than if I waited but I figured take it now cause it might be gone in a couple of years.
A whole year longer? Golly!!
There’s the storyline for seniors: Have a DEM POTUS, save your Social Security. Followed closely by: Elect Trump, prepare to have your Social Secuity slashed!
IMHO, a wise strategy might be to take SS early and invest it so it can grow.
wi full retirement at 70... right???
Government mismanages everything.
What a joke! They already borrow Trillions to pay out obligations. The interest on the total debt (so far!) is now over a Trillion dollars a year! Sooner or later it will go full Venezuela with money worth less than the paper it is printed on!
If I’d been allowed to keep the Social Security taxes I’ve paid since I started working as a teenager and invested them in some decent index fund, I’d get a lot more in retirement than Social Security will ever pay me.
Took mine at 62, did the calculations and it would take 15 years to make up the difference if I wanted toll 67.5.
More concerned than ever, now.
Yep, there is no seeing the future, other than democrats tinkering. Get my money back now, though I will never get the interest it would have earned.
When I saw the title, I thought this would be a story from the Babylon Bee.
Ah yes right on the heels of the news that Biden has increased the US Money supply 3.5 x in 2021 alone, and has further increased it another 3x since then.
Of course they are not calculating the adjustments made for the fictionary cost of living increases.
Can wait 3 years and it’s like earning 600 per month on it when it catches up in about 8 years
They do disclaim they could drop it by some percent in 2035 and I’m still ahead by a few hundred. Investing is not as certain as that and high risk investing isn’t good later in life.
Thats one way of looking at it
If you don’t need it why take it out
Any talk about the “Trust Fund” is pure BS. When you see it, ignore everything that follows. The “Trust Fund” consists of government bonds. The US spends all of the Social Security tax revenue it takes in and issues bonds and puts them in the “Trust Fund”
Great News!
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