From a letter to Senator Ron Wyden from Karen Glenn, Social Security's Chief Actuary:
... We estimate that implementation of the OBBBA [One Big Beautiful Bill Act] will result in net increased program cost starting in 2025. Over calendar years 2025 through 2034, the total net increase in OASDI [Retirement, Survivors and Disability] program cost is estimated to be $168.6 billion. In addition, the timing of combined OASI [Retirement] and DI [Disability] Trust Fund reserve depletion is accelerated from the third quarter of 2034 under the 2025 Trustees Report baseline to the first quarter of 2034 following implementation of the law. Considered alone, the reserve depletion date for the OASI Trust Fund is accelerated from the first quarter of 2033 to the fourth quarter of 2032. DI Trust Fund reserves are not projected to become depleted during the 75-year projection period. ...
9 comments:
This is outrageous. How dare she report fake statistics to damage the POTUS.
Dear Leader is not going to like that
Yes she has. They will get someone to come in and say the OBBB actually extends the program solvency for 20 more years.
They cut at least two revenue sources. The taxes on benefits paid back to the trust funds. And creating a deduction on tips (and probably others) that will decrease the OASDI tax intake.
Of course it will impact the solvency. Does not take an economics degree to understand.
Typical lib bull. SSA is doing the best it’s ever been. I expect free McDonald’s and diet cokes instead of yearly COLAs going forward for our hard work.
I'm shocked, disappointed, and frankly quite hurt that the Chief Actuary has not yet appeared in an episode of South Park this season.
hehe
We could only be so lucky as to get that. I mean, who really needs more $ when we could get McDonald’s instead?
You forgot going after all of the undocumented people who pay into Social Security but never collect.
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