Tag: trust fund depletion
We don’t need “Rescue Committees;” the Social Security 2100 Act could do the job. Shivers went up my spine when I heard that the TRUST Act might be included as part of additional action on COVID-19. It sounds like a benign piece of bipartisan legislation, but it could well lead to major cuts to Socia…
COVID-19 will impact this projection, but probably not significantly. The 2020 Trustees Report, which was prepared before the onset of the COVID-19 pandemic, shows an increase in the program’s 75-year deficit from 2.78 percent to 3.21 percent of taxable payroll (see Figure 1). The depletion date for the trust fund remains at 2035. What does…
