None
EN
Opinion: 42 years of warnings, six years to insolvency
['Vladlena Klymova']
The Wake Weekly Latest News
THE CENTER SQUARE — In the 500 months – or 42 years – since Social Security’s trustees resumed warning of the program’s coming deficits, retirees have seen their checks arrive promptly.
This week, the Senate Finance Committee held a hearing on “Exploring Process Approaches for Addressing Social Security Solvency.”
In 1996, Henry J. Aaron of the Brookings Institution asserted that Social Security “is adequately funded for the next 30 years.
The price index Social Security uses likely overstates inflation, resulting in inflated cost-of-living adjustments over time.
Since then, they have enacted not a single Social Security reform aimed to improve program finances.