Could the Trust Fund last longer than now predicted?
While the most recent Trustees’ Report warns that the Social Security Trust Funds will be depleted in 2034 unless Congress acts soon to shore it up, investment firm Morgan Stanley is predicting a different scenario based upon it’s own workforce estimates for the future. The investment firm’s opinion is based upon a more optimistic view of labor-force participation by the so-called “Generation Z”, those now younger Americans who will follow today’s millennials into the American workforce, thus extending solvency of the Trust Funds by decades. This is, of course, in contradiction to the more conservative view of the Congressional Budget Office. Nevertheless, this MarketWatch article by Elisabeth Buchwald describes Morgan Stanley’s predictions that the Trust Fund may not be depleted as quickly as now believed. Click here to read more.
AMAC has been at the forefront trying to strengthen Social Security by developing and proposing its Social Security Guarantee. AMAC has been discussing and continues to discuss this common-sense solution with Congressional Representatives in its efforts to protect America’s senior citizens who rely on Social Security. To review AMAC’s Social Security Guarantee, click here.