Social Security Report

FACT: Social Security and Medicare are NOT stronger now than a year ago

President Trump routinely states that his administration is making Medicare and Social Security stronger.  But is that so?  The Social Security Trustees report the trust fund will be exhausted in 2034 and benefits would have to be cut over 20% across the board (sooner with a recession) unless Congress acts before then.  Medicare will reach insolvency in 2026.  PolitiFact looks at changing demographics, the effect of lower wage growth, and the GOP tax cuts enacted this year.  Their conclusion?  The President’s claim is false.  The forecast for both programs is worse today than last year, as Medicare’s trust fund is expected to run out of money three years sooner and Social Security’s trust fund is expected to run out one year sooner.  Read the analysis here.  Note, The Association of Mature American Citizens (AMAC) has developed a bipartisan compromise, “The Social Security Guarantee Act,” to strengthen Social Security for present and future generations with modest changes now to head off across the board cuts for all.  The plan takes selected portions of bills introduced by Rep. Sam Johnson (R-TX) and Rep. John Larson (D-CT) and merges them with the AMAC’s original legislative framework to create the new Act.  AMAC is resolute in its mission to get the attention of lawmakers in DC, meeting with many congressional offices and their legislative staffs over the years.  Learn more about AMAC’s Social Security Guarantee here…

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