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Renacci Statement Following Ways & Means Social Security Subcommittee Hearing
Rep. Jim Renacci (OH-16) today released the below statement following the Ways and Means Subcommittee on Social Security hearing on what Americans need to know as they plan for retirement. “According to the Social Security Trustees Report, the program’s unfunded liabilities are at 10.6 trillion, that is $1 trillion more than last year. In today’s hearing, we found out that $80 billion was added to the federal deficit this year due to Social Security’s shortfall. Yet, this was not highlighted in the trustees’ report. We do know, however, that the program will become insolvent by 2033, yet instead of addressing the issue we continue to kick the can down the road.”…Read More
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