alt Hacker NewsIf nothing is done it’s a mathematical fact. The problem is that there are no plans to do anything yet, each administration and congress seeing it as too politically volatile to deal with, which means we will have a last minute suboptimal solution.
Obviously there are solutions. Maybe if America survives that long we might see one implemented.
Replies
adam_arthur • today at 3:27 AM
The hole can be filled overnight by just raising the retirement age.
And if you normalize for longer lifespans, it's perfectly reasonable.
➕ show 1 reply
Sure, if nothing is done. The trust fund redeeming its bonds is little different than the congress appropriating money for Social Security benefits; both come out of the current revenue of the USG. When the trust fund no longer has any bonds to redeem, there's nothing stopping congress from continuing to transfer money into Social Security to pay benefits at existing levels. They'll just have to vote on it rather than it happening automatically.