More negatives for Social Security’s future surface in June jobs report

In a statement today recapping the Bureau of Labor Statistics June jobs report, Ways and Means Republican Leader Kevin Brady (R-TX) cited “red flags” for the U.S. economy, specifically in the form of “…worker shortage persisting, layoffs rising, and employment shrinking.” Looking beyond the immediate implications for the U.S. economy in general, it becomes clearer and clearer that extended impact on the country’s workforce will likely have a corollary effect on Social Security’s finances: less payroll tax funding, more rapid depletion of trust fund reserves, and long-term impact on individual earnings records.

Read the Brady statement here…

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