Social Security Funding is Now At Risk
The US Social Security Administrations funding trusts are known as the Old-Age and Survivors Insurance (OASI) Trust Fund and the Disability Insurance (DI) Trust Fund. In their 2019 annual report to Congress, the Board of Trustees released some startling detail about projected insolvency for the Social Security Program by the year 2035. The Social Security Administration (SSA) has been dipping into its "trust fund" to meet scheduled benefit payouts. Social Security program costs continue to exceed non-interest income. The OASI has no authority to borrow money, and during the COVID-19 pandemic, the American workforce is severely reduced. Now there are ... Read More
