Social Security Insolvency Is Looming Closer - MSN.com
One of the most popular plans for keeping Social Security solvent and able to pay 100% of all benefit payments appears to be lifting the Social Security earnings cap.
The Old Age and Survivors Insurance (OASI) Trust Fund, the largest portion of the trust fund reserves, is projected to be insolvent by the end of 2032; at that time, it would be able to pay approximately 78% of current and future benefits. With the rising cost of Medicare Part B premiums, this would be disastrous. The 2026 Medicare Trustees Report projects a rise to approximately $209.50 in 2027, up from the current 2026 premium of $202.90.
There are quite a few options being discussed, but Congress needs to act soon. Times Now has written an article on the topic. I personally do not expect to see a cut, as when Social Security faced insolvency in 1983, Congress waited until the last minute but ultimately worked in a bipartisan manner to save it.
Read the full story by Times Now Digital,here…
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