Liberal Forum

Mrkelly » 17 Dec 2024, 12:41 pm » wrote: ↑

17 Dec 2024, 12:41 pm

  Yur stupid

NO ASSHOLE, I AM VERY SMART as I KNOW THE FACTS BEHIND THE TRUST FUND AND YOU DON'T HAVE A **** CLUE!!

The Social Security trust funds are projected to be depleted in 2034 or 2035, depending on the source: [1, 2, 3]

• Congressional Budget Office (CBO): Projects that the combined trust funds will be depleted in 2034
• Social Security Trustees: Project that the trust funds will be depleted in 2035, but there's an 80% chance they'll be depleted between 2033 and 2039
• Center on Budget and Policy Priorities (CBPP): Projects that the trust funds will be depleted around 2035, giving policymakers time to develop a financing plan

If the trust funds are depleted, Social Security won't be able to pay all scheduled benefits. This would have disastrous consequences for the millions of retirees, people with disabilities, and their families who rely on Social Security. [4]
The main driver of the mismatch between revenues and expenditures is the aging population. The number of Social Security beneficiaries has increased rapidly, while the number of covered workers paying into the program has only increased by 20%. [5]
Congress has options to fill the gap in Social Security funding, including: Raising payroll taxes, Lowering benefits, and Setting a higher retirement age. [6]
Policy experts generally don't expect Congress to allow the trust fund to be depleted, but it's important to be aware of the potential consequences. [4]

Generative AI is experimental.
[1] https://www.cbpp.org/research/social-se ... l-security
[2] https://www.cbpp.org/research/social-security/understanding-the-social-security-trust-funds-0
[3] https://www.cbo.gov/publication/60679
[4] https://www.urban.org/urban-wire/if-soc ... sabilities
[5] https://www.pgpf.org/article/without-re ... xt-decade/
[6] https://www.investopedia.com/ask/answer ... -money.asp
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