2019 Trustrees Report Shows That Social Security Continues To Work For America

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      Mr. Mickeys Mom
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      Read more at Source: Common Dreams

      The most important takeaways from the 2019 Trustees Report are that (1) Social Security has a large accumulated surplus, and (2) Social Security is extremely affordable. In three-quarters of a century, in 2095, Social Security will constitute just 6.07 percent of GDP. That is considerably lower, as a percentage of GDP, than Germany, Austria, France, and most other industrialized countries spend on their counterpart programs today.

      The 2019 Trustees Report projects Social Security’s cumulative surplus to be$2.9 trillion. It shows that Social Security is fully funded until 2035, 93 percent funded for the next 25 years, 87 percent funded over the next 50 years, and 84 percent funded over the next 75 years.

      Often, the release of the annual Trustees Report leads to lamentations from many observers that Congress has no plan to address Social Security’s projected shortfall. That is incorrect. It is only Congressional Republicans who have no plans – at least that they are willing to publicly embrace. That is perhaps because their preferred “solutions” involve benefit cuts, which areoverwhelmingly opposed by voters across the political spectrum, including their own Republican base.

      If there was one thing I remembered Al Gore for telling the American voter about besides An Inconvenient Truth, it’s the earlier warnings to put a lock box over SSI funds. It’s NOT part of the Federal budget, anyway, yet…

      Hell, no... I'm not giving up...

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