June 15, 2024
The Social Security Trustees released their annual report on the financial status of Social Security and it is nine years from bankruptcy.
According to the report, Social Security will run cash deficits of $3 trillion over the next decade, the equivalent of 2.3% of taxable payroll, or 0.8% of GDP.
According to the Trustees, lawmakers could restore 75-year solvency with a 27% payroll tax increase, a 21% reduction in all benefits, or a 25% reduction in benefits for new beneficiaries if they act today.
Posted by: Timothy Birdnow at
10:26 AM
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Posted by: Dana Mathewson at June 16, 2024 10:54 PM (6H7jI)
Cathy gets SSI which is what keeps us afloat. I don't know what we will do if this happens.
I hope you AREN'T gone in nine years Dana! Neither of you.
Posted by: Timothy Birdnow at June 17, 2024 06:43 AM (gajv0)
Posted by: Dana Mathewson at June 17, 2024 11:17 PM (6H7jI)
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