Rather than carefully and accurately educating people about Social Security and the issues it faces, some advocacy groups rely on misleading and sometimes inflammatory Tweets more often than not with a political taint.
This is the group that was claiming the Trust has a surplus which it does not.
Seniors are upset each year when their COLA is non-existent or too small in their opinion. Imagine the reaction if they faced a 23% “modest in size” reduction in benefits. I’m betting that would indeed be a crisis. The call for “simple maintenance” has been made and ignored by Congress after Congress for over ten years. What should have been modest changes is becoming more difficult to implement each year of delay.
Pushing to expand Social Security (a very misleading phrase indeed) is irresponsible without assuring the permanent sustainability of Social Security as well.
Here are the facts.
“The OASI Trust Fund reserves are projected to become depleted in 2034, at which time OASI income would be sufficient to pay 77 percent of OASI scheduled benefits. DI Trust Fund asset reserves are projected to become depleted in 2052, at which time continuing income to the DI Trust Fund would be sufficient to pay 91 percent of DI scheduled benefits.”
Source: 2019 Social Security Trustees Annual Report
Categories: Social Security