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Thread: Social Security shortfall: Trust fund to run dry in 2035, trustees predict

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  1. #1
    Senior Member Airbornesapper07's Avatar
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    Social Security shortfall: Trust fund to run dry in 2035, trustees predict

    here's a novel Idea.... STOP GIVING IT / TRYING TO GIVE IT TOO ILLEGAL ALIENS




    Social Security shortfall: Trust fund to run dry in 2035, trustees predict

    By Brittany De Lea
    Published April 22, 2019Personal FinanceFOXBusiness

    Social Security will run out of money in 2035: Report

    FBN's Edward Lawrence on a new report on when Social Security and Medicare will run out of money.

    Video at the page link

    Social Security’s reserve funds are expected to be depleted in 2035, at which time the program will no longer be able to pay out benefits in full.
    That’s according to the annual Social Security and Medicare trustees report released on Monday, which said total costs of the program, which covers the old age and disability insurance programs, will exceed income in 2020 – for the first time since 1982. That’s two years later than projected last year, but means the program will have to dip into its reserves to cover benefits at that time.
    MORE FROM FOXBUSINESS.COM...




    By 2035 those reserves will be depleted, and 80 percent of benefits will be payable.
    In 2018, the trustees forecast that 100 percent of benefits would be covered through 2034, meaning the trust fund gained an extra year before expected depletion. However, the trustees are still urging lawmakers to take action sooner than later.

    “Both Social Security and Medicare face long-term financing shortfalls under currently scheduled benefits and financing,” the trustees wrote.
    Taken separately, the Old-Age and Survivors Insurance (OASI) trust fund will have enough reserves to pay full benefits through 2034. The Social Security disability fund, however, will not run out until 2052, about two decades later than what last year’s report projected. That change was attributed to a decline in disabled-worker applications and disability incidence rates.
    The trustees combine the programs in the report to summarize the overall state of Social Security's finances.
    Medicare’s hospital insurance trust fund is expected to run out of money in seven years, which remains the same as last year’s projections.
    As a share of GDP, the annual cost of Social Security will increase to 5.9 percent by 2039 – up from 4.9 percent last year. Total Medicare costs will rise to 5.9 percent by 2038, up from 3.7 percent.

    As of the end of March, more than 68.3 million people were receiving Social Security, Supplemental Security Income, or both. The average benefit was $1,347.06.
    Combined, Social Security and Medicare accounted for about 45 percent of the federal budget in fiscal 2018.

    https://www.foxbusiness.com/personal...aJA3RAopQUzFOU
    Last edited by Airbornesapper07; 04-22-2019 at 06:37 PM.
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  2. #2
    Senior Member Beezer's Avatar
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    Cut off all foreign aid and pay OUR money back!

    Shut that border down and boot the refugees, TPS, asylum liars and illegals OFF our taxpayer funded benefits including medical care and school.
    TO BECOME AN AMERICAN YOU MUST CHANGE YOUR VALUES ...NOT YOUR LOCATION

    STAY HOME AND BUILD AMERICA ON YOUR SOIL

  3. #3
    Senior Member Airbornesapper07's Avatar
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    Dirt Broke America

    It's probably sooner than you think.



    hotair.com

    Social Security will be unable to pay full benefits by 2035
    "...tens of millions of Americans will only receive about three-quarters of…
    If you're gonna fight, fight like you're the third monkey on the ramp to Noah's Ark... and brother its starting to rain. Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)

  4. #4
    Senior Member Airbornesapper07's Avatar
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    Don't Tell Bernie: Medicare's Hospital Fund Will Run Out Of Money In Seven Years




    "At a time when some are calling for a complete government takeover of the American health care system, the Medicare Trustees have delivered a dose of reality..."

    Beezer likes this.
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  5. #5
    Senior Member Airbornesapper07's Avatar
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    Social Security and Medicare Funds Face Insolvency, Report Finds.



    nytimes.com

    Social Security and Medicare Funds Face Insolvency, Report Finds
    If you're gonna fight, fight like you're the third monkey on the ramp to Noah's Ark... and brother its starting to rain. Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)

  6. #6
    Senior Member Airbornesapper07's Avatar
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    Social Security will be unable to pay full benefits to beneficiaries by 2035



    oann.com

    Social Security will be unable to pay full benefits to beneficiaries by 2035 | One America News Network
    If you're gonna fight, fight like you're the third monkey on the ramp to Noah's Ark... and brother its starting to rain. Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)

  7. #7
    Senior Member Beezer's Avatar
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    Cut off ALL foreign aid and pay it back!

    We are not the world's police, ATM machine or dumping ground for their overbreeding poor!

    Keep out of other countries business and stop bringing MORE people here! We have our own to take care of.

    10 year moratorium on all immigration and clean up the mess these swamp rats have made of our country!
    Airbornesapper07 likes this.
    TO BECOME AN AMERICAN YOU MUST CHANGE YOUR VALUES ...NOT YOUR LOCATION

    STAY HOME AND BUILD AMERICA ON YOUR SOIL

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