Social Security solvency
Social Security’s steadily eroding base…and what it could mean to you
Social Security’s financial reserves — the cushion that, for the past few years, has enabled the program to pay scheduled benefits in full — are evaporating at an increasing rate. For example, in 2024, the program paid out $67 billion…
The myths of Social Security Trust fund
Will social and legacy media outlets be the downfall of the Social Security system with their perpetuated myths and fearmongering? The fact is that the Social Security Trust fund is projected to reach insolvency in 2032, forcing 24 percent across-the-board…
Waiting only makes the changes larger and more difficult
The Congressional Budget Office (CBO) regularly publishes reports presenting its baseline projections of what the federal budget and the economy would look like in the current year and over the next 10 years if laws governing taxes and spending generally…
Sounding the Alarm: Social Security in Financial Trouble
In somewhat of a “Johnny-come-lately” mayday alarm, this MorningStar article by Jessica Hall reports that the latest from the Congressional Budget Office (CBO) is that Social Security’s reserves may be fully depleted in about the year 2032 - an issue…
The Social Security Conundrum
It should be no secret to anyone who stays abreast of the news these days, Social Security - the nation’s primary program to avoid poverty in our senior years - will soon be facing a financial crisis! According to the…
The Social Security Full Retirement Age - U.S., compared to other countries.
In this time of uncertainty about the financial stability of our U.S. Social Security program - especially its ability to meet its long term financial obligations - included in the various reform proposals is the concept of raising the U.S.…
Social Security’s Financial Outlook
There is a lot of talk these days about the financial outlook of the Social Security program, because the Trustees of that program suggest that the reserves which now supplement everyone’s monthly SS benefit are likely to run dry in…
Social Security: Financial Reality and Politics
Those who focus on Social Security’s looming 2033 financial crisis know that there is a solution to the problem. The data are fairly easy to understand - Social Security must increase revenue while also reducing costs - to avoid an…
Bipartisan Fiscal Commission Suggestion Surfaces (Again)
It’s been an on-again, off-again subject in the news over the years (for example, see our 2024 post on this topic), but now, with another two years closer to catastrophe, we see it once more. This time, the Committee for…
More on Social Security’s financial dilemma
As a companion to another article posted today hereon, this Roosevelt Institute article by Stephen Nuñez provides substantial detail about why a Social Security issue exists, and what can be done to prevent the Social Security Trust Funds from being…