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There aren’t any quick fixes to Social Security insolvency
When combining the Old-Age and Survivors Insurance Trust Fund (OASI) and the Disability Insurance Trust Fund (DI), Social Security will be able to pay 100 percent of total scheduled benefits until 2035, according to the Social Security Trustee Report for 2024. The trustees noted, “At that time, the projected fund reserves will become depleted, and continuing total fund income will be sufficient to pay 83 percent of scheduled benefits.” This problem is not new; officials have known of this pending shortfall for years but cannot agree on a bipartisan solution. Kailey Hagen asks how much money Social Security needs to avoid benefits cuts in 2035 and what American workers and seniors can do about it. Read Ms. Hagen’s article here…
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