Tuesday, April 23, 2019

Social Security Costs to Exceed Income in 2020

And it begins.

Social Security’s costs are expected to exceed its income in 2020 for the first time since 1982, forcing the program to dip into its nearly $3 trillion trust fund to cover benefits.

And here is the thing. The trust fund holds US Treasury securities that the Treasury doesn't have the cash to redeem and means the Treasury will need to go into the markets and raise funds to pay for the redemptions.


1 comment:

  1. I was planning to wait until 67, maybe even 70, since currently most of my SS would just be taxed away. But maybe I should grab it while the grabbins' good.