From a summary of this year’s Trustees Report on the status of Social Security’s trust funds:
… • The Old-Age and Survivors Insurance (OASI) Trust Fund will be able to pay 100 percent of total scheduled benefits until the fourth quarter of 2032, one quarter earlier than projected last year. At that time, the fund’s reserves will become depleted and continuing program income will be sufficient to pay 78 percent of total scheduled benefits.
• The Disability Insurance (DI) Trust Fund is projected to be able to pay 100 percent of total scheduled benefits through at least 2100, the last year of this report’s projection period. Last year’s report projected that the DI Trust Fund would be able to pay scheduled benefits through at least 2099, the last year of that report’s projection period.
• If the OASI Trust Fund and the DI Trust Fund projections were combined, the resulting projected fund (designated OASDI) would be able to pay 100 percent of total scheduled benefits until the third quarter of 2034, unchanged from last year’s report. At that time, the projected fund’s reserves would become depleted and continuing combined fund income would be sufficient to pay 83 percent of scheduled benefits. (The two funds could not actually be combined unless there were a change in the law, but the combined projection of the two funds is frequently used to indicate the overall status of the Social Security program.) …
5 comments:
Franks incompetence is helping the trust fund become depleted quicker. The lack of staff can’t keep up with the medical and work cdrs and work reports
Looks like the problem is insufficient revenue, and very clearly has NOTHING to do with supposed fraudulent disability insurance claims/payments.
But by all means, don’t let that clear reality keep you from lowering Jeff Bezos‘s tax rate further while chasing imaginary fraud, Rs! The idiot electorate down in the inbred/belt (also called the sun-belt by many) loves eating the s**t you hand it.
That doesn't make any sense......
This has been a known problem for decades and neither party has addressed it. It needs to be addressed but I fear they will wait until the last minute which, for someone like me, is a very anxiety arousing thing!
Yes it does. Work CDRs and Medical CDRs are very high ROI program integrity tools that more than pay for themselves in programmatic savings, if only the staff can get to them.
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