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> People have been saying this for decades Yep, if you look at the historical trustee reports[1], in 1990 it was projected to run out in 2043. In 2000 it was p
by ndriscoll 4y ago
> People have been saying this for decades
Yep, if you look at the historical trustee reports[1], in 1990 it was projected to run out in 2043. In 2000 it was projected to run out in 2037. The same 2037 estimate was given in 2010. In 2020, it was estimated at 2034, which is the current estimate.
Of course money is just numbers to allocate worker productivity. The real important things are demographic ratios and what percent of our productive capacity we want to allocate to taking care of retirees. The running out of the trust just more directly forces us to revisit that question.
[1] https://www.ssa.gov/oact/TR/index.html https://www.ssa.gov/oact/TR/index.html
- gilbetron 4y ago"running out" means the Old-Age and Survivors Insurance (OASI) Trust Fund, after which taxes (as they stand) will be able to cover 77% of the needs of that fund. It does not mean that SS goes away.