The Social Security Board of Trustees has just informed Congress that starting next year, Social Security (SS) payments will exceed payroll tax revenue, and that the SS reserve fund will run out by 2035:
Social Security payouts next year will exceed incoming revenue, according to a new Social Security Board of Trustees audit.
In their annual report to Congress, the trustees announced that in 2021 the cost of the Social Security program will for the first time since 1982 "exceed total annual income” – leading to a depletion of asset reserves that will run out completely by 2035. (
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Do even a few Democrats wish they had not demagogued and blocked George W. Bush's sound SS reform proposal in 2005?
Social Security payouts next year will exceed incoming revenue, according to a new Social Security Board of Trustees audit.
In their annual report to Congress, the trustees announced that in 2021 the cost of the Social Security program will for the first time since 1982 "exceed total annual income” – leading to a depletion of asset reserves that will run out completely by 2035. (
Cost of Social Security will exceed program's income in 2021, says board of trustees
In their annual report to congress the Social Security Board of Trustees projected a bleak and desperate future for the program
justthenews.com
Do even a few Democrats wish they had not demagogued and blocked George W. Bush's sound SS reform proposal in 2005?
What if George W. Bush’s Social Security reforms had passed? - Washington Examiner
More than a decade ago, President George W. Bush set out to fix what he called a broken Social Security system. In 2001, intermediate projections had shown the retirement trust fund would be exhausted in 2040. By 2005, finances had improved and the projected exhaustion date was 2043. But today...
www.washingtonexaminer.com