Yet Another Call for Focus on Social Security’s Solvency Dilemma - Herald-Star
In the wake generated by the projections in the 2021 Social Security Trustees Report issued August 31, many alarm bells are being sounded on the depletion projections for the combined Old-Age and Survivors Insurance and Disability Insurance (OASI and DI) trust funds. The trustees, while hedging on the long-term impact of the continuing COVID-19 pandemic, further aroused concern by noting “The pandemic and precipitous recession have clearly had significant effects on the actuarial status of the OASI and DI Trust Funds, and the future course of the pandemic is still uncertain.” So, with this as a backdrop, we’re seeing renewed interest in the quest for Social Security reform, as evidenced by an editorial post yesterday on the Herald-Star (Ohio) website. Check it out here…
As this website’s dedicated readers are fully aware, the Association of Mature American Citizens (AMAC) has repeatedly and consistently called for preservation and modernization of Social Security, and in fact, AMAC has developed a plan— the Social Security Guarantee designed to accomplish this objective without raising taxes on workers. With a few relatively minor formula adjustments and policy modifications, this plan–a policy framework–could ensure Social Security’s future for multiple generations. One component of AMAC’s plan is Social Security PLUS, a voluntary companion benefit (not privatization of the main program) that would allow all workers to have more money in retirement. The details on AMAC’s plan, which has been communicated to a host of congressional contacts through the years, can be found here.
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