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.) …
13 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.
The DI trust fund is doing fine. So CDRs obviously aren’t the problem. The biggest contributors to insolvency are the boundless greed that made procreation a perk exclusively for the rich (and a poverty sentence for any non-one percenters who dare have offspring) and Trump’s tax cuts for those same uber-rich demons.
The democratic party has proposed numerous solutions and brought up numerous bills to solve the problem, all of which have been killed by the GOP. But don’t let facts get in the way of your blind faith to the GOP.
President Trump has repeatedly said he wants to protect and strengthen Social Security but has not come forth with realistic plans. During his cabinet meeting on May 27, he said he believed that reducing rampant fraud would be enough to put the program’s finances back on track, echoing false ideas spread by Elon Musk and others last year, including the claim that millions of dead people were receiving payments.
Does anybody think these legislators will make tough decisions to save SSA?
GOP Rep Caught Faking A Phone Call To Avoid Question About Plan To Cut Social Security.
@827 PM. The Democratic solutions have included increased spending, something generally not thought of as a solution to a money shortfall. Neither party has addressed just fixing the shortfall due to a lack of courage.
Answer phones……its our NEW target
Why didn’t you get the work cdr med cdr rzs…….while local mgt screaming.
Simple your boss gave us a different target, didnt you get the memo?
False, every politician says they wont touch SSA…….translation they do nothing.
Hiring freeze since Regan, every president since him has cut our budget.
No real improvements done by anyone.
Dems in control = nothing
GOP in control = nothing
Its an agency no-one likes….prove me otherwise lol
@7:20: I know it’s not the impossible dream you apparently want to see, but spending can be part of a viable solution if paired with adequate revenue raising through taxes. And taxes can be raised much higher than they currently are without hurting all but a tiny handful of uber-rich douchebags. If you don’t believe me, learn some history, and maybe read a book or talk to someone who grew up outside your little American bubble.
Post a Comment