JasoninHalifax wrote:
i'm assuming that the solvency of SS is the same now as it was 4 years ago. so it's worth, in your eyes, $0 now and $0 4 years ago... Was SS more solvent 4 years ago than it is now?
It actually changes over time as the trustees make new assessments based on actuarial data and forecasted revenues. IIRC from some of the reading I've done over the past few days, not that long ago they thought that the trust fund would run dry in 2037; now that year is 2033. It's also important to note that the trust fund in question is all based on special bonds issued by the Treasury that can only be bought by government trust funds. So, the trust fund isn't so much a fund as a debt the US owes to itself. And the trust fund isn't growing; we are steadily depleting it because there isn't enough payroll taxes to come in to cover all of the promised benefits. Once the trust fund is gone, the payroll taxes are estimated to cover about 75% of promised benefits. Of course, another hit to employment levels and thus reduced amounts of payroll taxes could roll that 2033 date back even closer.
Spot
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