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psychorameses t1_jc3ao11 wrote

I'm confused. Is social security going broke or not?

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tabrisangel t1_jc3jcmc wrote

Yes it has a depletion date in 2034.

Anyone here claiming social security is fine have truely zero idea what they are talking about. The numbers of today are very much not the numbers of 2035. It's one of those things where the graph doesn't look so bad until you forecast 10 years out.

It would take HUGE large changes today to add a few years to the depletion date.

ssa.gov

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breaditbans t1_jc57dmq wrote

Ten years ago the depletion date was 2025. I’ve tried to find the ever changing insolvency date. It moves back by a few years every few years. Nobody explains why or how.

Changes would have to be made to maintain benefits as they are currently described. But if no change to the law is made, benefits would decrease by ~20-25% compared to what was promised.

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tabrisangel t1_jc8sitg wrote

That's just a lie and minimizing the problem.

Nowhere was it ever 2025 you'll need to link something serious.

It STARTS at 75% the first year, then goes lower and lower. It's not as if it will just stay at that figure when you forecast out to 2050 for example.

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mynameismy111 t1_jc665j2 wrote

No, if we did nothing the payout would be 85 percent of expected in about 12 years then sit there as the demographics normalize, boomers temporarily drawing it down for next few decades, then levels out

Those who say ss is going broke r scam artists trying to privatize SS and lower taxes for the rich, and those who listen to them in the right wing world who parrot it

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