...After 2020, Treasury will redeem trust fund assets in amounts that exceed interest earnings until exhaustion of trust fund reserves in 2033, three years earlier than projected last year. Thereafter, tax income would be sufficient to pay only about three-quarters of scheduled benefits through 2086....
Those are the facts, so when Right Wingers state the fund is in trouble in 2023, that is ten years before the actual date stated by the actuaries.
And let's be clear, the reason the trust fund is reaching its limit by 2033 and not 2035 or 2036, IT IS BECAUSE OF BUSH ECONOMICS that lead to the economic collapse of 2008. There is no other reason SSI is in trouble. The tax increases to the wealthy are more than appropriate considering the damage done to our financial infrastructure.
There was huge damage done to our entitlements by the economic collapse of 2008. Just because benefits to recipients didn't change doesn't mean nothing changed. The collapse of 2008 was not simply a collapse of our economy, it was a collapse of the USA infrastructure of its entitlements. Shortening payments by 2 to 3 years is not a joke, it is not a minor issue.
DO NOT WELCOME BACK THE SAME OLD POLICIES THAT CAUSED THIS, allowing Paul Ryan to attack the system for the sake of political fodder. This IS the highest and more immoral insult to the American people, their entitlements.
DO NOT PLAY WITH THIS! These payments to our elderly is not just a life line it is a right, an entitlement, a promise and the baseline to the USA economy.
The Romney Ticket loses its moral standing on entitlements with their position to expand on hardship of the American people. The SSI Trust Fund should have a high priority in preserving its structure and should be one of the first places interest growth should be noted in the USA economy. If the interest rates grow to the SSI Trust Fund the more solvent the fund and the less change has to occur. Right now the economic plans of the Republicans does nothing to expand the solvency of SSI. Everyone should be demanding plans for the expansion of the solvency of SSI, not cuts. That means tax increases.
