Posted on 06/11/2022 2:37:43 PM PDT by RomanSoldier19
The latest report on funding for social security benefits did not give a financially positive outlook for the future to federal lawmakers. Instead, a report by the Social Security Administration said benefits will cost more than the income collected to pay for it. By 2035, the SSA's Social Security Board of Trustees reported that the money in the Old-Age and Survivors Insurance and Disability Insurance (OASI and DI) Trust Funds will be depleted, putting funds toward insolvency, meaning it is unable to pay its debts. Slightly sooner, SSA reported the Old-Age and Survivors Insurance Trust Fund would be empty by 2034.
Half million Floridians could lose health insurance in 2023, study says
Yearly costs of maintaining the social security program are "projected to exceed total annual income in 2022 and remain higher" over the next 75 years. Since 2010, cost of maintaining the program has been higher than non-interest income. Now, paying for benefits to American retirees is higher than all income paid to the program.
To preserve funding, the SSA urged U.S. Congress to act.
"It is important to strengthen Social Security for future generations. The Trustees recommend that lawmakers address the projected trust fund shortfalls in a timely way in order to phase in necessary changes gradually," Kilolo Kijakazi, Acting Commissioner of Social Security, said. "Social Security will continue to be a vital part of the lives of 66 million beneficiaries and 182 million workers and their families during 2022."
(Excerpt) Read more at insurancenewsnet.com ...
It really means 3.5 months
Congress could extend that looming apocalypse by a couple of years by selling off the Pelosi winery, complete with ice cream freezers. It’s the least they could do.
I think America is ready for conservatives to push forward an extension of the retirement age to 75, while cutting COLA by 50% this while leaving Medicaid in place for illegals. Make Rick Scott the point man. He can roll the measure into his tax increase proposal.
F that. We need to go Vlad Tepes on their asses.
The equation is real simple: Democrats are to blame for inflation and out of control spending. They run Congress and the Executive branch. They have failed. They have no workable solutions. Republicans need to provide those solutions and insure seniors that they will maintain social security for their future.
Anyone under the age of 60 now who ever intended to rely on Social Security for their retirement is a fool.
How ‘bout this: Stop raiding the fund to spend money to get yourself re-elected, If that’s a problem, try not spending money on illegals.
Awesome! Can we send another $40 Billion to Zelenskyy?
How come we never hear about the welfare system running out of money?
I’m turning 60 this year and I’m counting on collecting Social Security in a few years - as beer money.
Exactly. If I ever get any Social Security money, I will take it (whether it will be worth anything or not at that point who can say)
But I full expect means testing. And soon. Which means I won’t get any. And most other conservatives who worked hard their whole life won’t either.
It will be ok, Fauxcahontis said she would make Elon pay for it
Much, much, much easier said than done.
https://www.ssa.gov/history/ssa/usa1964-2.html
Self-Supporting
“The program is designed so that contributions plus interest on the investments of the social security trust funds will be sufficient to meet all of the costs of benefits and administration, now and into the indefinite future—without any subsidy from the general funds of the Government.
Both the Congress and the Executive Branch, regardless of political party in power, have scrupulously provided in advance for full financing of all liberalizations in the program.”
HOW IS THAT WORKING OUT FOR YOU AMERICA!
Funny they never say they will run out of welfare money. F these bastards.
by then i will be 83.
stop paying out to every gdmfsb immigrant and teenage mom who couldn’t keep their legs crossed.
Got mine early, been socking it away, spend baby spend!
But everything you want and everything you don’t need, lol
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