Wednesday, June 12, 2019

4 Key Lessons from Latest Social Security Trustees’ Report

By Charles Blahous | June 11, 2019

The Social Security trustees issued their annual report on the program’s financial condition earlier this year, along with their companion report on Medicare. As in previous years, these reports contain sobering news that lawmakers and the public need to know. The trustees who authored these reports are Treasury Secretary Steven Mnuchin, Health and Human Services Secretary Alex Azar, Labor Secretary Alexander Acosta, and then-acting Social Security Commissioner Nancy Berryhill. Two other trustee positions, those of the independent, bipartisan public trustees, have remained vacant since Robert Reischauer and I last served in those capacities in 2015. This article summarizes four key lessons of the Social Security report.........

#1: Social Security faces a huge financing shortfall.
#2: The shortfall is certain.
#3: We are running out of time to save Social Security, if we haven’t already.
#4: We need public trustees. ............To Read More....

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