#social-security-insolvency

[ follow ]
#aging-population-demographics #trust-fund-depletion #payroll-tax-funding #retirement-benefits-crisis
Retirement
from24/7 Wall St.
2 days ago

How Dwindling Social Security Trust Fund Could Impact Your Benefits in Just 6 Years

Social Security's trust fund will become insolvent by 2032 due to an aging population and declining worker-to-beneficiary ratio, forcing automatic benefit reductions unless Congress acts.
Retirement
from24/7 Wall St.
1 month ago

Social Security Experts Warn The Government 'must break its promise on Social Security' to avoid 'imminent insolvency'

Social Security reserves are projected to be exhausted by late 2032, triggering an automatic 24% reduction in benefits unless Congress enacts a fix.
fromwww.mediaite.com
2 months ago

Mitt Romney Urges Higher Taxes on the Rich, Warns U.S. Is Headed for a Cliff'

published Friday, warning that the U.S. is barreling toward a fiscal crisis if major changes are not made to entitlement programs and the tax code. In the piece, Romney argues that the projected bankruptcy of the Social Security Trust Fund by 2034 represents an urgent economic threat. Today, all of us, including our grandmas, truly are headed for a cliff, he wrote, noting that if the trust fund runs out, benefits would be cut by about 23 percent.
US politics
[ Load more ]