Click here: to donate by Credit Card
Or here: to donate by PayPal
Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794
Thank you very much and God bless you.
Posted on 08/21/2025 9:18:12 PM PDT by SeekAndFind
Ninety years ago, President Franklin Delano Roosevelt signed the Social Security Act, which created the program that now sends monthly benefit checks to millions of Americans, including retirees, disabled individuals and families.
But by the time the program celebrates its centennial, benefits may not look the same as today’s Social Security payments.
The reason: Social Security’s trust funds, which the program relies on to help pay benefits, are facing a looming shortfall.
Starting in 2033 — two years before its 100th anniversary — the program may only be able to pay 77% of scheduled benefits for retirees, their families and survivors, Social Security’s trustees projected in an annual report released in June.
However, should those funds be combined with Social Security’s trust fund for disability benefits, as has happened in prior emergencies, payments may be cut one year later, in 2034. At that point, 81% of scheduled benefits would be payable, Social Security’s trustees project.
Importantly, Social Security benefits would not disappear entirely. The program would still have ongoing income from payroll taxes to help fund benefit payments.
That scenario is not inevitable. Changes to the program may be enacted sooner to shore up its funding and prevent sudden benefit cuts.
Most, 83%, of surveyed Americans think Social Security reform should be a top priority for Congress, even if it means benefit cuts or tax increases for future beneficiaries, according to a new poll from the Bipartisan Policy Center’s American Savings Education Council. The group polled more than 4,000 adults.
(Excerpt) Read more at cnbc.com ...
|
|
Click here: to donate by Credit Card Or here: to donate by PayPal Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794 Thank you very much and God bless you. |
Senator Bill Cassidy (R-Louisiana) has teamed up with Sen. Tim Kaine, D-Virginia., to co-lead a bipartisan pitch — the centerpiece of which is a new $1.5 trillion investment fund for Social Security, separate from Social Security’s current trust funds.
The initial $1.5 trillion outlay would be borrowed. Because the money would be held in escrow and could be liquified, it would not increase the national debt, Cassidy said.
The funds would be invested more aggressively than Social Security’s current trust funds, which are invested in U.S. Treasury securities. Because those investments are backed by the full faith and credit of the U.S. government, they are secure. However, the average rate of return over a one-year period was around 2.5% in 2024.
In contrast, the S&P 500 has returned an annual average of around 10%, though those results vary from year to year.
Investing the proposed separate investment fund in stocks, bonds and other investments could cover an estimated 70% of Social Security’s trust fund shortfall, Cassidy said. That would make it much more doable for lawmakers to address the remaining 30%, he said.
Now that I’m retired I’m good with raising the payroll tax, getting rid of the earnings cap, and increasing the retirement age, for future retirees, of course.
With another 10 years to go to retirement, I think the best approach is to NOT increase the retirement age, and not increase the payroll tax or the earnings cap. But I am good with cutting benefits to existing retirees for, say, 10 years, before raising them back up to current levels, adjusted for inflation.
How about eliminating any and all benefits to ILLEGALS?
I will get back the money I put in within 11 years-inflation notwithstanding. After that I’m screwing the working folk. Everyone should be cut off at that point. An IRA at birth would go far to privatize it over time.
.
“How about eliminating any and all benefits to ILLEGALS?”
Radical.
RE: Its a shame some of the accumulating billions in tariff money couldn’t be used to bolster the ailing Social Security funds ....
So, exactly what are these billions in tariff money going to be used for?
“”combined with Social Security’s trust fund for disability benefits””
I don’t know what that means. Do Social Security deductions (FICA) from employees added to employers portion go into SEPARATE funds once it reaches SS Administration? One for retirement benefits and one for disability? I’ve been around a long time but I never knew there were two different pots for the funds being paid INTO SS....Wonder how that’s determined! XX in one pot and XXX in another? We’ve always heard that the government has borrowed the money and left IOU’s in its place.
...and foreign aid and agricultural subsidies and....
“”So, exactly what are these billions in tariff money going to be used for?””
Paying the National Debt, I hope!
8 years hence.
meanwhile federal workers retire early and start collecting right away...
and of course we've given every "panic" attack or bad back guys early SS for their entire lives,not to mention all the illegals...
my sil was on disability since her early 20's...with two kids and she made out like a bandit.
>> Senator Bill Cassidy (R-Louisiana) has teamed up with Sen. Tim Kaine, D-Virginia., to co-lead a bipartisan pitch
Progressive filth, each of them. I wouldn’t believe them if they said the sky outside is blue.
There is more fraud in “social security disability” than anywhere else in all of government.
Cut it to the bone, and REAL social security — which I define as “social security that I have been forced to PAY INTO at the end of a gun barrel for sixty plus years” — will be just fine.
SSDI is horse crap. Cut it to the BONE! And beyond.
Great thinking on here. My only comment is how did this get this far? The system simply stinks as do most government entitlements. We can’t get rid of it but it needs to be reformed to extensive levels. The political ramifications will prevent any substantial improvement.
I say let’s cut benefits to government employees to pay for it. Start with their Cadillac medical and then cut their pensions they can enjoy the same pain as the American people
There hasn’t been a Social Security ‘trust fund’ as normies think of the term since way before the end of the last century. And SSDI was thought up to buy even more votes by the politiicans. The money stolen from you and your employer for ‘social security taxes’ go directly into the general fund for the politicians to waste.
And I agree with the other posters that illegals shouldn’t see a dime of any of the funds, including ssdi.
With 42 payers to 1 recipient at its inauguration, SS now requires 3 payers to a single recipient.
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.