Community Champion ⭐⭐⭐

AMUSING - WHO CARE ABOUT US?

Forum|Forum|1 year ago
April 30, 2025
12 replies
2447 views

I thought this might be amusing to some here. Talk about being slow to act - Talk about Passing the Buck - make sure you include this in any message you might send to the AARP or your legislator on this matter.

We need compromise - IF we don’t compromise on a solution . . . . . well, I am not sure where that will leave us except to start planning for around a 20% cut isn benefits come about 2033 - 2035.

Do you think they really care about you and me or is it just their own way that they support. Again talk about SLOW to act on such an important matter - at least important to us - To Them, well not so much.

I am posting the ending paragraph of every Social Security Trustee report that I could easily access since 2009 - I have listed the various links to each of these reports in case any of you want to see the analysis of any of the years.

2009 - https://www.ssa.gov/OACT/TR/2009/II_conclu.html#86802

Under current law, the cost of Social Security will soon begin to increase faster than the program’s income because of the aging of the baby-boom generation, expected continuing low fertility (compared to the baby-boom period), and increasing life expectancy. Based on the Trustees’ best estimate, program cost will exceed tax revenues starting in 2016 and throughout the remainder of the 75-year projection period. Social Security’s combined trust funds are projected to allow full payment of scheduled benefits until they become exhausted in 2037. At that time, annual tax income to the trust funds is projected to equal about 76 percent of program costs. By 2083, annual tax income is projected to be about 74 percent as large as the annual cost of the OASDI program.

If no substantial action is taken until the combined trust funds become exhausted in 2037, then changes necessary to make Social Security solvent over the next 75 years will be concentrated on fewer years and fewer cohorts:

The projected trust fund deficits should be addressed in a timely way to allow for a gradual phasing in of the necessary changes and to provide advance notice to workers. Making adjustments sooner will allow them to be spread over more generations. In 2009, Social Security plays a critical role in the lives of 52 million beneficiaries and 160 million covered workers and their families. With informed discussion, creative thinking, and timely legislative action, present and future Congresses and Presidents can ensure that Social Security continues to protect future generations.

2010 - https://www.ssa.gov/OACT/TRSUM/2010/index.html

But while it is projected that the Medicare HI Trust Fund is adequately financed until 2029, and the Social Security OASI and DI Trust Funds are adequately financed until 2040 and 2018, respectively, the significant longer term financial imbalances of the programs still need to be addressed. The sooner action is taken to address the long-run financial imbalances, the more reform options will be available, and the more time there will be to phase in changes so that those affected will have adequate time to prepare.

2011- https://www.ssa.gov/OACT/TRSUM/2011/index.html

Conclusion

Projected long-run program costs for both Medicare and Social Security are not sustainable under currently scheduled financing, and will require legislative corrections if disruptive consequences for beneficiaries and taxpayers are to be avoided. The financial challenges facing Social Security and Medicare should be addressed soon. If action is taken sooner rather than later, more options and more time will be available to phase in changes so that those affected can adequately prepare.

2012 - https://www.ssa.gov/oact/TRSUM/2012/index.html

Conclusion

Lawmakers should address the financial challenges facing Social Security and Medicare as soon as possible. Taking action sooner rather than later will leave more options and more time available to phase in changes so that the public has adequate time to prepare.

2013 - https://www.ssa.gov/oact/TRSUM/2013/index.html

Conclusion

Lawmakers should address the financial challenges facing Social Security and Medicare as soon as possible. Taking action sooner rather than later will leave more options and more time available to phase in changes so that the public has adequate time to prepare.

2014 - https://www.ssa.gov/oact/TRSUM/2014/index.html

Conclusion

Lawmakers should address the financial challenges facing Social Security and Medicare as soon as possible. Taking action sooner rather than later will leave more options and more time available to phase in changes so that the public has adequate time to prepare.

2015 - https://www.ssa.gov/oact/TRSUM/2015/index.html

Conclusion

Lawmakers should address the financial challenges facing Social Security and Medicare as soon as possible. Taking action sooner rather than later will permit consideration of a broader range of solutions and provide more time to phase in changes so that the public has adequate time to prepare.

2016 - https://www.ssa.gov/oact/TRSUM/2016/index.html

Conclusion

Lawmakers have many policy options that would reduce or eliminate the long-term financing shortfalls in Social Security and Medicare. Lawmakers should address these financial challenges as soon as possible. Taking action sooner rather than later will permit consideration of a broader range of solutions and provide more time to phase in changes so that the public has adequate time to prepare.

2017 - https://www.ssa.gov/oact/TRSUM/2017/index.html

Conclusion

Lawmakers have many policy options that would reduce or eliminate the long-term financing shortfalls in Social Security and Medicare. Lawmakers should address these financial challenges as soon as possible. Taking action sooner rather than later will permit consideration of a broader range of solutions and provide more time to phase in changes so that the public has adequate time to prepare.

2018 - https://www.ssa.gov/oact/TRSUM/2018/index.html

Conclusion

Lawmakers have many policy options that would reduce or eliminate the long-term financing shortfalls in Social Security and Medicare. Lawmakers should address these financial challenges as soon as possible. Taking action sooner rather than later will permit consideration of a broader range of solutions and provide more time to phase in changes so that the public has adequate time to prepare.

2019- https://www.ssa.gov/oact/TRSUM/2019/index.html

Conclusion

Lawmakers have many policy options that would reduce or eliminate the long-term financing shortfalls in Social Security and Medicare. Lawmakers should address these financial challenges as soon as possible. Taking action sooner rather than later will permit consideration of a broader range of solutions and provide more time to phase in changes so that the public has adequate time to prepare.

2020 - https://www.ssa.gov/oact/TRSUM/2020/index.html

Conclusion

Lawmakers have many policy options that would reduce or eliminate the long-term financing shortfalls in Social Security and Medicare. Lawmakers should address these financial challenges as soon as possible. Taking action sooner rather than later will permit consideration of a broader range of solutions and provide more time to phase in changes so that the public has adequate time to prepare.

2021 -https://www.ssa.gov/oact/TRSUM/2021/index.html

Conclusion

Lawmakers have many policy options that would reduce or eliminate the long-term financing shortfalls in Social Security and Medicare. Lawmakers should address these financial challenges as soon as possible. Taking action sooner rather than later will permit consideration of a broader range of solutions and provide more time to phase in changes so that the public has adequate time to prepare.

2022 - https://www.ssa.gov/oact/TRSUM/2022/index.html

Conclusion

Lawmakers have many policy options that would reduce or eliminate the long-term financing shortfalls in Social Security and Medicare. Taking action sooner rather than later will allow consideration of a broader range of solutions and provide more time to phase in changes so that the public has adequate time to prepare.

2023 - https://www.ssa.gov/oact/TRSUM/2023/index.html

Lawmakers have many options for changes that would reduce or eliminate the long-term financing shortfalls. We urge Congress to consider such options for both Medicare and Social Security, like the proposal for Medicare in the President’s FY24 Budget. With each year that lawmakers do not act, the public has less time to prepare for the changes.

2024 - https://www.ssa.gov/OACT/TRSUM/

Lawmakers have many options for changes that would reduce or eliminate the long-term financing shortfalls. Taking action sooner rather than later will allow consideration of a broader range of solutions and provide more time to phase in changes so that the public has adequate time to prepare.

Wanna bet that the 2025 one when issued shortly will say the same thing?

papawofboo

Community Champion ⭐

Just for the fun of it. This post has 10 views so far and I'm one of them.

How many read the entire post? Not me.

Papaw of Boo

GailL1Author

Community Champion ⭐⭐⭐

Of course you won’t read it, even though I pointed out that every year since 2009 it says the very same thing. That’s the amusement. Read one, you have read them all.

We have had this critical need for our legislators to solve this for over 15 years and NOTHING has been done. Yet we all grip here about making Social Security and Medicare strong. AARP says they work for us to help the programs stand on firm ground. Yet in all this time, NOTHING has been done.

The programs of Social Security are bad financial shape; Disability is healthier than Retirement or Survivors benefits but that doesn’t matter cause they will just put them all together when push come to shove.

We are taking MORE OUT than we are PUTTING IN and have been for a good while. Now we are to the point that we are having to pull from the reserve to just cover the benefits being paid out. And the amount we are having to pull from the reserve is getting bigger and bigger by the year. And this is at a time when we are pretty much at full employment.

By not handling it years ago, the options for a correction are getting critical and we are probably gonna be faced with some severe only options to get it corrected fast. Or maybe it will not be corrected at all and come 2033 - 2035 we will all take about a 20% cut in benefits - ALL beneficiaries, about a 20% cut in benefits.

I listed these so that those who are interested can see exactly how we came to be in this shape - pure and simple - INACTION by our legislators.

LOL - both FDR and Reagan would be rolling over in their graves as a result of this debacle. FDR because he devised the program and had hopes that further legislative generations could manage it properly and Reagan because he and his Democratic legislators fixed it once with the note that further changes would need to be done in 40 or so years. So they too thought that further legislative generations would be able to handle the management of it - THEY HAVE NOT.

IT‘S ALWAYS SOMETHING . . . . .. . . . Roseanne Roseannadanna

papawofboo

Community Champion ⭐

Well I think we have talked this out. I have always looked for the simplest way to solve a problem. Congress doesn't do this.

Anyway, as I add birthday candles this become more and more someone else problem. And they can't say they weren't warned.

By the way, did you notice the "beep" in my post, do you know the word they :beeped"? That is just silly.

Papaw of Boo

T

Tonster521

Community Champion ⭐

@gail1, as you know, information is power. You did a "yeoman's job" of providing the Trustee Reports all neatly packaged into one post. That effort deserves a Kudos. Everyone interested in avoiding or delaying the depletion of the SS Trust has access to pertinent information. The goal is to be informed as much as one can be. And, with the complex SS program, "the devil is in the detail".

I will state that you are too kind saying that Congress is slow to act or exhibit inaction. Based on my experience (almost 46 years) in the private sector (manufacturing), I would call it a failure. Unfortunately, even a substantial number of Congressmen and women have not be able to move any proposals to the front burner. It appears to me that Party concerns override fiscal management of the SS program. Although the unfunded liability has been noted as somewhere between $20 and $25 Trillion for the 75 year projection, it is abundantly clear that SS revenue (FICA taxes) need to be increased as well as other solutions just to avoid or delay the depletion of the SS trust and an approximate 17% to 20% cut in SS Benefits somewhere between 2033 and 2035. Increasing FICA taxes is a "political third rail" and will likely cause some existing Congressmen and women to lose their seat. So be it.

For the record, I have read all the SS Trustee reports that you provided. Not at one time,but over the years. The SS actuary has been informing Congress and the public for many years that funding the SS program needs to be addressed sooner than later.

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