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Every Thing Else Board
Should Social Security Raise Its Retirement Age
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<blockquote data-quote="HDRider" data-source="post: 1061825" data-attributes="member: 17025"><p>LONG-RANGE ACTUARIAL DEFICIT OF THE OASI, DI, AND HI TRUST FUNDS </p><p> Actuarial deficit (As a percentage of taxable payroll)</p><p>Social Security Retirement (OASI) -2.4% Social Security Disability (DI) - .32% Medicare (HI) - 1.11%</p><p> </p><p>The projected 75-year actuarial deficit for the combined Old-Age and Survivors Insurance and Disability Insurance (OASDI) Trust Funds is 2.72 percent of taxable payroll, up from 2.67 percent projected in last year's report.</p><p></p><p>Social Security's total expenditures have exceeded non-interest income of its combined trust funds since 2010, and the Trustees estimate that Social Security cost will exceed non-interest income throughout the 75-year projection period by the amounts shown above.</p><p></p><p>As it has since 2008, the Medicare (HI) Trust Fund will pay out more in hospital benefits and other expenditures than it receives in income in all years until reserve depletion.</p><p></p><p>FAT CHANCE OF THIS</p><p>Conclusion - Lawmakers should address the financial challenges facing Social Security and Medicare as soon as possible. Taking action sooner rather than later will leave more options and more time available to phase in changes so that the public has adequate time to prepare. Lawmakers need to act soon to avoid reduced payments to DI beneficiaries three years from now. </p><p></p><p>From:</p><p><a href="http://www.ssa.gov/oact/trsum/" target="_blank">http://www.ssa.gov/oact/trsum/</a></p></blockquote><p></p>
[QUOTE="HDRider, post: 1061825, member: 17025"] LONG-RANGE ACTUARIAL DEFICIT OF THE OASI, DI, AND HI TRUST FUNDS Actuarial deficit (As a percentage of taxable payroll) Social Security Retirement (OASI) -2.4% Social Security Disability (DI) - .32% Medicare (HI) - 1.11% The projected 75-year actuarial deficit for the combined Old-Age and Survivors Insurance and Disability Insurance (OASDI) Trust Funds is 2.72 percent of taxable payroll, up from 2.67 percent projected in last year’s report. Social Security’s total expenditures have exceeded non-interest income of its combined trust funds since 2010, and the Trustees estimate that Social Security cost will exceed non-interest income throughout the 75-year projection period by the amounts shown above. As it has since 2008, the Medicare (HI) Trust Fund will pay out more in hospital benefits and other expenditures than it receives in income in all years until reserve depletion. FAT CHANCE OF THIS Conclusion - Lawmakers should address the financial challenges facing Social Security and Medicare as soon as possible. Taking action sooner rather than later will leave more options and more time available to phase in changes so that the public has adequate time to prepare. Lawmakers need to act soon to avoid reduced payments to DI beneficiaries three years from now. From: [url=http://www.ssa.gov/oact/trsum/]http://www.ssa.gov/oact/trsum/[/url] [/QUOTE]
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