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SteveGoss57 karma

For better or worse, this has not been a problem (look at the verified picture above).

SteveGoss26 karma

Thanks for this question. Yes, we have been aware that the Trust Fund reserves would eventually deplete and we would need further legislative action, ever since the last major changes in 1983. We have posted many proposals from legislators on our web page where legislators have asked for estimates for their preferred approach to extending solvency for Social Security. http://www.socialsecurity.gov/OACT/solvency/index.html

SteveGoss24 karma

That it will go away. Under current law we project that even in the absence of any Congressional action between now and 2033, the combined Social Security Trust Funds would still have 77 cents of tax income coming in for every dollar of scheduled benefits. So the benefits stopping altogether should not be a concern. Past legislative fixes have usually been a combination of some additional revenue and some reduction in scheduled benefits. And such fixes have always been enacted in time to avoid any problem in paying benefits in a timely fashion.

SteveGoss21 karma

Most of all think carefully about everything. The great thing about our work is that it encompasses everything in our society. Our office motto "challenge everything".

SteveGoss19 karma

We had to look up TL;DR! But look here: http://www.socialsecurity.gov/OACT/solvency/provisions/index.html and click on "Summary List of all Provisions".

These individual provisions are all taken from comprehensive proposals put forth by policymakers. And of course these proposals are all described in their entirety in our letters to policymakers at: http://www.socialsecurity.gov/OACT/solvency/index.html.