Tag: Social Security depletion
Our Social Security program is well-structured, but with one major flaw. I’ve been scratching my head since President Trump announced in early December that the administration is considering developing a national retirement savings system like Australia’s superannuation program. Yes, our system is not perfect, but it’s not clear what we get from Australia at this…
Most is due to change in the program’s 75-year horizon. The 2024 Social Security Trustees Report showed a 75-year deficit of 3.50 percent of taxable payrolls compared to a surplus of .02 percent in 1983. While the increase in the deficit over the last 41 years is large, two-thirds of the increase was totally predictab…