Projections from the Social Security Administration indicate that the entitlement program will be depleted in 2033, a year earlier than previously anticipated. If the trust fund runs out, it could lead to a 23% benefit cut for the estimated 70 million recipients. President Biden and former President Trump have not presented detailed plans to address the solvency issue, with Secretary Yellen highlighting the lack of a concrete strategy. Various voices emphasize the urgency of action to prevent automatic benefit reductions in the near future.
Donald Trump has a Social Security problem https://t.co/GgA5zKGcpn https://t.co/vhzYZWx86E
Take it from Biden Treasury Secretary Janet Yellen: "The president doesn't have a plan — he has principles..." https://t.co/uZQMAh4zR8 https://t.co/MAQN00iFbd
In case you were thinking of retiring some day, bad news from Janet Yellen: Social Security and Medicare are now underfunded by $175 trillion. That comes to roughly $1.4 million per American household. There are only 3 solutions: - slash beneficiaries - massively hike taxes,… https://t.co/mp9DK2dctn
Biden and Trump have cast themselves as protectors of Social Security, yet neither has offered a detailed plan for ensuring the program’s solvency. https://t.co/JcO7EgYePw
Projections from the Social Security Administration showed that the entitlement program will be depleted in 2033, one year earlier than previously expected. https://t.co/Bhx3yC82FM
Social Security trust fund reserves will be depleted in less than 10 years, but President Biden and former President Donald Trump offer only vague promises to protect the program as they doggedly avoid the notorious “third rail” of American politics. https://t.co/p7X4D39OPY
Contrary to what Donald Trump and Joe Biden imply, it is impossible to "protect" Social Security and Medicare by doing nothing. Inaction will guarantee automatic benefit cuts in less than a decade. https://t.co/ovd7IbBvnk
#JanetYellen admits #SocialSecurity will run out of money in 2034, but Biden has no plan for fixing it. That is in 10 years. The longer we wait to fix it, the worse things will be. Yellen says he wants to work with Congress, but after 3 years he still hasn't talked to them yet. https://t.co/JhcOHroufb
Secretary Yellen admitted that President Biden has NO plan to protect Social Security. But I have a plan. My Save Our Seniors Act will require the Congressional Budget Office to report the true fiscal health of Social Security & ensure that our seniors receive their benefits.
REMINDER: Biden has no plan for Social Security. Just ask Janet Yellen. https://t.co/h26VuCG6p2
REMINDER: Biden has no plan for Social Security. Just ask his Janet Yellen. https://t.co/h26VuCG6p2
Mr. Biden and Mr. Trump have cast themselves as protectors of Social Security, yet neither have offered a detailed plan for ensuring the program’s solvency. https://t.co/sOF4yrd60F
When asked about President Biden's "plan" to stop Social Security from going insolvent, @SecYellen said, "The President doesn't have a plan." Doing nothing GUARANTEES a 24% benefit cut for all current & future beneficiaries. This is unacceptable.
If the trust fund goes bust, it would result in a 23% percent cut in annual benefits for all of the program’s estimated 70 million recipients in 2033. https://t.co/sOF4yrd60F
Projections from the Social Security Administration showed that the entitlement program will be depleted in 2033, one year sooner than previously expected. https://t.co/sOF4yrd60F