Social Security trustees see earlier fund depletion date

The trustees of the Social Security system said Monday the fund that helps sustain retiree and survivors’ benefits will become exhausted in 2033, three years sooner than they projected last year.

At that point, payroll taxes and taxation of Social Security benefits will provide only enough income to pay about 75 percent of the benefits that Congress has promised to retirees and survivors.

In practical terms, this means that a 40-year-old worker who is eligible to collect retirement benefits in 2039, would see his or her expected retirement benefit cut by about 25 percent, unless Congress took action to change the program’s funding or its benefit structure.

Social Security trustees see earlier fund depletion date

I turn 65 in 2031, so I get to enjoy the money that was stolen from me for a whole 2 years before they say "sorry, we spent too much of it". When do you turn 65? How much will you lose when it runs out? How much longer can the American public allow Congress to skim from us every single dime we need to live and eat with?

Supporters of Social Security, you've been had.

/TOA

The trustees of the Social Security system said Monday the fund that helps sustain retiree and survivors’ benefits will become exhausted in 2033, three years sooner than they projected last year.

Well this stinks, anyway, if every year they keep taking off 3 years from the "run out date" that would make it 7 years the money would run out, or 2019.

The max income that they take the money out of hasn't been raised in 40 years. They set it at roughly 100k and there it's sat. Of course, simply raising it to match the inflation increases since then makes far too much sense.

reply to post by The Old American


CAFR's..

plenty of fake fiat money in there..

Make someone wait 65 years

65 YEAR paying into something that when you start the value of that dollar decreases ever day during that 65 YEARS that never gains any interest that the GOVERNMENT STEALS FROM and one day you might get it and if your lucky you may draw a total of 10 years.

What a blankin joke and there are those who defend that stupidity.

Guess congress should stop stealing it for their pock barrel projects huh.

Oh but that's just a pipe dream.