Tag: Old Age and Survivors Insurance
Last month, I got an invitation to a forum on “Trust Fund Solutions,” which means Senator Mitt Romney (R-UT) is still pushing his TRUST Act. One of the bill’s co-sponsors – Senator Angus King (I-ME) – also appeared on the program. While the Trust Act sounds like a nice benign piece of bipartisan legislation, its…
Introduction Numerous commissions, individual researchers, and the Trustees of the Social Security system agree that the current Social Security system is not sustainable. The 2003 Trustees’ report forecasts that the program’s two trust funds (Old Age and Survivors Insurance and Disability Insurance) will be empty in 2042. After 2042, Social Security taxes would only cover…
