The trustees, tasked by Congress with overseeing the trust funds of the nation's retirement programs, estimated that the combined trust for Social Security's retirement and disability programs would be depleted by 2033, the same year as in last year's projections. After that point, beneficiaries will face a 25 percent cut in benefits, as all payments must be financed by incoming tax revenue.
Social Security has been spending more than it has been taking in since 2010, and that imbalance is expected to worsen.
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12 comments:
Just print more. That's what they do for everything else!
Do we have a budget yet after what 5 years?
No?
This may not be a happy ending.
Stop spending money to house and feed illegals and throw a billion or two into SS account!
Publish this again in two years when it didn't happen.
Why do deductions stop at $117000? People who make more hope no one notices, it some kind third rail discussion. Tax it all.
Begs the same question as always - how come we NEVER hear about welfare funds 'running out'?
Whoa Yo....my King Obama says dat not true YO
Health care costs slowing down??
Thats because no one can afford health care.
Co-pays, premiums, deductibles.
You get better health care while on the public dole than if you are working.
Thanks to the biggest dumb ass of a incompetent buffoon of a president in our nation's history (and there have been some REALLY terrible presidents in the last 200 years).
This goof is head and shoulders above them all. But his golf game seems to be getting better.
Go to any check cashing place on the first week of the month....entire families where each member gets an SSI check....But they are perfectly able to blow their money on cigarettes and lotto tickets before they leave...
Oh hell just take the money from WELFARE and move it to disability! Most of the people getting welfare are already getting disability since they can't get off their back, close their legs, and get a job!
Social Security was never designed to protect retirees - It was always a tax. Signed into law by FDR a prominent Socialist who believed in spreading the wealth around.The Government has stolen billions of dollars from this so called account and never replaced the funds. If a person was wise and placed their Social Security tax in a private fund and never touched these funds they would be a millionaires at age 55.
How long before welfare runs out? Why does military and social security always get cut but welfare does not. There are to many on disability that should not be on it.
Maybe they can rob Peter to pay Paul again. Which fund will they rob it from so they don't have to cut these benefits.
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